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More than 1.15 million Americans now owe over $200,000 each in federal student loans, with borrowers in California, Florida, Texas and New York accounting for roughly one-third of the country’s highest debt balances, according to new federal data.
The figures come as the federal student loan system faces mounting financial pressure, with a record 9.5 million borrowers now in default after pandemic-era repayment protections expired and the Trump administration moved away from Biden-era student loan repayment and forgiveness programs.
Borrowers with the largest balances of more than $100,000 in federal loan debt collectively owe around $700 billion, data from Federal Student Aid shows. These figures represent outstanding principal and interest balances and do not mean every borrower included has defaulted.
Across the U.S., the total owed in education fees to the federal government stands at around $1.65 trillion, according to the Federal Reserve Bank of New York.
The return of repayment obligations renews attention on the scale of student debt across the country, particularly among borrowers carrying the largest balances. While the highest levels of debt remain concentrated in the nation’s largest states, the data shows that substantial student loan burdens exist across every part of the country.
California Leads Nation
California has the largest number of borrowers carrying more than $200,000 in federal student loan debt, with 142,100 people holding a combined $45.2 billion in outstanding balances. It is the only state with more than 100,000 borrowers in this highest debt category.
Other states with the largest numbers of borrowers carrying balances above $200,000 include Florida, with 88,800 borrowers and $28 billion in debt, Texas, with 79,700 borrowers and $23.4 billion, and New York, with 79,100 borrowers and $24.5 billion.
Combined, California, Florida, Texas and New York account for roughly 390,000 borrowers with federal student loan balances above $200,000, which is around one-third of all borrowers in that category nationwide.
Several other large states also have significant numbers of high-balance borrowers. Georgia has 54,600 borrowers with balances above $200,000, followed by Illinois with 51,400 and Pennsylvania with 44,800.
Wide Disparity Among States
At the other end of the scale, smaller states have far fewer borrowers in the highest debt bracket. Wyoming has the fewest, with 900 borrowers owing more than $200,000, followed by North Dakota with 1,200, South Dakota with 1,600, Alaska with 1,700 and Montana with 2,600.
Despite large differences in the number of borrowers, the average debt among those in the highest bracket remains relatively similar across states. The average balance generally falls between $285,000 and $315,000 for borrowers owing more than $200,000.
A much larger group of borrowers falls into the $100,000 to $200,000 debt range. The data shows millions of borrowers nationwide are in this category, with an average balance of about $139,000 per borrower.
Again, California ranks first, with 230,700 borrowers holding a combined $32.3 billion in federal student loan debt between $100,000 and $200,000. It is the only state with more than 200,000 borrowers in this range.
Texas follows with 209,000 borrowers and $28.8 billion in debt. Florida ranks third with 168,200 borrowers holding $23.3 billion, while New York has 155,500 borrowers with $21.6 billion in unpaid loans.
Together, these four states account for more than 760,000 borrowers in the $100,000 to $200,000 category.
Other states with large numbers of borrowers in this range include Georgia, with 125,600 borrowers, Illinois and Pennsylvania, each with 102,900, Ohio with 93,100 and North Carolina with 90,200.
The smallest numbers of borrowers with balances between $100,000 and $200,000 are found in Wyoming, with 2,600 borrowers, followed by North Dakota with 3,100, Alaska with 3,400, Vermont with 4,400 and South Dakota with 5,000.
Similar to the highest debt category, the average balance among borrowers in this range does not vary significantly from state to state. The typical borrower owes between $135,000 and $145,000.
Student Loan Defaults Surge
In recent years, a growing number of borrowers have fallen into default after years of pandemic-related protections. According to data from the Office of Federal Student Aid, the number of borrowers in default has risen from 5.3 million to around 9.5 million since June 2025, when defaults resumed.
Nationwide, there is about $1.7 trillion in federally backed student loan debt, with $233.3 billion currently in default.
Around 9.5 million borrowers, more than one in five federal student loan borrowers, are now in default, including some whose loans had already been significantly overdue before the pandemic. The number of borrowers in default has surpassed the previous record of 8 million, which was reached in December 2019 before the pandemic pause began.
Another 870,000 borrowers are currently between 181 and 270 days behind on payments, placing them close to entering default.
During the economic disruption caused by COVID-19, the Education Department allowed federal student loan borrowers to pause payments. Although payments officially resumed in 2023, the Biden administration introduced a one-year transition period that prevented borrowers from immediately facing the usual consequences of missed payments.
That protection ended in the fall of 2024, and borrowers began returning to default status in large numbers in 2025.
The scuppering of the Biden era Saving on a Valuable Education (SAVE) plan may also have contributed to rising numbers of borrowers failing to pay their loans back. SAVE was an income-driven student loan repayment program that lowered monthly payments for many borrowers, prevented unpaid interest from increasing loan balances, and offered faster forgiveness for some with smaller loans. The plan was later blocked by federal courts following legal challenges from Republicans.
Are you a federal borrower with more than $100k outstanding? Email [email protected]
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