Average student loan debt increasing

Local News

(localmemphis.com) – People in Arkansas are struggling with paying off their loans. 55% of people living in the Natural State have student loan debt.

According to Experian Statistics, the average Arkansan borrows more than $32,000 in student loans.

The percentage of people who have student loan debt has increased since last year.

“You do have to be careful about how much they are taking in, and they also have to be careful about having a plan in order to pay it back after,” said Joel Doelger with Credit Counseling of Arkansas.

Mississippi saw the biggest increase in average student loan debt among states between 2015 to 2019 with 36%. Tennessee saw a 32% increase with $35,000 of debt on average in the state.

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