Shocking Truth: Colorado Residents’ Average Student Loan Debt Exposed

Student loan debt is very common among Colorado residents. The majority of Americans are thinking about student loans in some capacity. Right now, Americans owe $1.74 trillion in student loans. That is a whole lot of debt.

I am one of the many who make student loan payments. Reflecting on my time in college, I wish I had paid closer attention to the loans I accepted. I did not understand loans, interest rates, and how they would impact my future.

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It was a hard lesson to learn, and my monthly bill reminds me of how extremely naive I was. I just wanted to stay in college and did not consider the debt and headaches I would experience later in life. This story is extremely common in Colorado.

Student Loan Debt in Colorado

New data by AXIOS has painted a picture of student loan debt for Colorado residents. Remember how Americans owe $1.74 trillion in student loan payments? Well, $30 billion of that debt comes from Colorado residents.

Related: HOW DOES STUDENT LOAN DEBT AFFECT COLORADANS? IT WILL SURPRISE YOU

The data also found that the average Colorado student loan borrower owes an average of $37,000.

Student Loan Forgiveness in Colorado

During the Biden administration, many Coloradans have secured student loan forgiveness for a variety of reasons.

In May, all student loans from Colorado students of the Art Institute were forgiven due to the college misleading students.

In total, $3.3 billion in student loan debt has been forgiven, according to data from CNBC.