Arkansas Student Loan Debt and Financial Aid Statistics

Federal student loan debt statistics in Arkansas

Arkansas is the state with the 32nd largest student loan debt in America
The residents of Arkansas owe a total of $13 billion
The average debt of a student borrower in Arkansas is $33,333
This is $4,454 below the national average
There are 390,000 people in Arkansas with student loan debt
Meaning that 12.89% of the population of Arkansas has some form of student loan debt
That makes Arkansas the state with the 24th-highest percentage of the population with student loan debt
51.20% of the population with student loan debt is under the age of 35

The average debt of a student borrower in Arkansas is $33,333
This is the 34th-highest average student loan debt in the country
And $4,454 below the national average of $37,787
When looking at the brackets of how much residents owe:
- 17.80% owe less than $5,000
- 20.10% owe between $20,000 and $40,000
- 1.50% owe more than $200,000

37.30% of undergraduate students in Arkansas take out student loans each year
This is the 23rd highest percentage of students taking loans of any state in the country
At 2-year schools, 19.40% of students take out student loans each year
The average student at 2-year schools is awarded $4,815 per year
At 4-year schools, this number jumps up to 45%
At 4-year schooes, the average student is awarded $6,896 per year
That’s the 18th highest average awarded to students when compared to other states

The student financial aid budget for Arkansas is $115.5 million
This is the 28th largest state budget for student financial aid in the nation
It works out at an average of $1,171 per undergraduate student – 13th largest in the country
This is 0.69% of the Gross State Product – the 7 largest GSP that any state spends on student financial aid
The only states that spend a larger percentage of GSP on student financial aid are Wyoming, Mississippi, New Mexico, Hawaii, North Carolina, and Alabama.