Georgia ranks 3rd for highest average student loan debt

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A study shows Georgia’s student loan balance averages more than $41,000.

MACON, Georgia (41NBC/WMGT) —  According to AdvisorSmith, Georgia ranks third in the nation for the highest average student loan balance.

A study shows Georgia’s loan balance averages more than $41,000. The state also ranks third for the highest percentage of the population with outstanding student loans at 15 percent.

Brenda Franco — PR specialist with AdvisorSmith— explains why paying loans now is more beneficial.

“There’s no interest on those student loans,” Franco said. “If they do make a payment before October, there’s more money going into the principal balance instead of the interest.”

At the end of 2020, the student loan debt averaged more than $36,000. The Biden Administration suspended student loan interest and payments until October 2021.

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Ariel comes to Macon from Greenville, South Carolina where she worked for Fox Carolina as a photojournalist for 4 years. She was part of the team that won a Southeast Emmy for their coverage of Hurricane Dorian. During her time in Greenville she realized her true passion is on-air reporting. She's excited to join the Middle Georgia community to be able to tell the stories of the people who live there. She graduated from the University of South Florida in 2014 with a degree in Mass Communications. She’s originally from Boca Raton, Florida. She has 2 dogs (1 is back home) and a cat. When she's not at work she can be found training as an aerialist or exploring her new home. She also loves a good TV binge, her current favorite shows to watch are The Office, Gilmore Girls, and The West Wing. Feel free to reach out if you have a news tip or just want to say hello.