Nevada Student Loan Debt and Financial Aid Statistics
Federal student loan debt statistics in Nevada
Nevada has the 34th largest student loan debt of any state in the country
The total student loan debt for the state of Nevada is $11.8 billion
The average Nevada resident with student loan debt is significantly below the national average – by $4,044
The average Nevada resident has a student loan debt of $33,743
This is the 32nd-largest average loan debt in the country
349,700 Nevada residents have some kind of student loan debt
This is 11.12% of the population but places Nevada in 44th position in the percentage of the population with student loan debt when compared to other states
This is only ahead of New Mexico , Washington state , Puerto Rico, California , Wyoming, Alaska, Utah and Hawaii
47.50% of the population is under the age of 35 – this is the 3rd lowest percentage under the age of 35 in the country
How much student loan debt does the average Nevada resident have?
The average resident of Nevada with student loan debt has a debt of $33,743 – $4,044 below the national average of $37,787
When looking at the brackets of how much residents owe:
18.00% owe less than $5,000
19.00% owe between $20,000 and $40,000
2.10% owe more than $200,000
Nevada has the 2nd lowest percentage of people owing between $20,000 and $40,000
How much do Nevada residents borrow each year?
Only 25.50% of Nevada undergraduate students take out student loans each year
This is the 8th-lowest percentage in the country
At 2-year colleges, 62.20% of Nevada students take out student loans to cover their tuition fees and living costs
This is the 5th highest percentage of any state in the country
These students are awarded $6,816 on average per year – the 2nd highest percentage in the country
At 4-year colleges, this number falls to 21.90% which is the 3rd lowest in the country
These students are awarded $6,850 per year on average – then20th highest in the country
State-level financial aid for students in Nevada
Nevada spends $72.4 million of state funds on student financial aid
This is the 33rd most of any state in the country
Of that, $13.4 million is distributed in the form of needs-based grants that don’t need to be repaid
The remaining $59 million is paid out in other forms that may be liable to be repaid at some point in the future
The amount that Nevada spends in state funds on financial aid works out to $462 per undergraduate student
This is 0.38% of the Nevada GSP
