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Florida’s average student loan debt is nearly $35,000

Staggering debt loads make it hard to buy a home.
The University of South Florida has earned national accolades for its push to raise graduation rates. Student loan debt in Florida is so crushing that it makes it hard to afford a house.
Published Oct. 21

Florida’s total student loan debt has hit $75.9 billion, according to a study by realtor.com. That represents 2.2 million borrowers who owe an average of $34,544 each —nearly $10,000 more than the typical downpayment on a house worth $205,000.

Nationally, total student debt could buy every U.S. house now on the market 1.9 times over, the study found. The average student loan borrower owes $34,000 — $8,500 more than the typical down payment of $26,000. Ohio had the most affordable down payment, with the average downpayment there being roughly half the size of the average borrower’s outstanding student loan debt. California and Hawaii are the two worst places to buy a house for people still paying off student loans.

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