Connecticut Student Loan Debt and Financial Aid Statistics

Federal student loan debt statistics in Connecticut

Residents of Connecticut have the 28th largest collective student loan debt of any state in the USA
Connecticut has a total student loan debt of $17.5 billion
The average borrower in Connecticut owes $35,162 – $2,625 below the national average of $37,787
This is the 25th highest of all the states in the USA
497,700 people in the state of Connecticut have some kind of student loan debt
This makes Connecticut the state with the 28th most people with student loan debt
13.80% of the population has student loan debt – the 10th highest percentage of any state, just behind Minnesota, Michigan, and Pennsylvania
57.30% of the borrowers are under the age of 35

The average resident of Connecticut owes $35,162
This is the 25th highest amount of any state in the country
Connectocut residents on average owe $2,625 less than the average borrower with student loan debt across the nation
When looking at the brackets of how much residents owe:
- 13.80% owe less than $5,000 – the 3rd lowest percentage of people owing this amount in any state
- 23.20% owe between $20,000 and $40,000 – the 8th highest percentage of borrowers owing this amount
- 2.10% owe more than $200,000

40.30% of undergraduates in Connecticut take out student loans each year
This is the 17th highest percentage in the country
At 2-year colleges in Connecticut this number falls to 8.90% – the 4th lowest in the country
At 4-year colleges the number jumps up to 52.30% – the 6th highest amount in the country
At 2-year schools, undergraduate students are awarded $6,226 on average per year – the 10th highest amount in any state
At 4-year schools this is $7,599 – the 3rd highest amount in the country

Connecticut has the 21st largest state budget for student financial aid
The state spends $148.7 million per year
This works out at $321 per undergraduate student – ranking 40th in spend per undergraduate student of all the states
This is 0.39% of the state GDP