Florida borrowers held $113.1 billion in outstanding federal student loan debt as of March 31, 2026, across 2,747,700 borrowers in Federal Student Aid’s borrower-location data. The reported average outstanding balance was $41,162 per borrower. Florida had the third-largest federal student loan balance among the 50 states, behind California and Texas.
How Much Student Loan Debt Does Florida Have?
Federal Student Aid’s Portfolio by Location data reports $113.1 billion in outstanding federal student loans for borrowers located in Florida. Only California, at $156.7 billion, and Texas, at $138.3 billion, reported larger state balances for the same period.
Florida’s large statewide balance reflects both the amount owed per borrower and the size of its borrower population. The state had 2.75 million federal student loan borrowers, compared with 3.92 million in California and 3.95 million in Texas.
These figures measure outstanding federal student loan debt. They are not the same as debt at graduation, annual borrowing, private student loan debt, or the amount originally borrowed.
Florida Compared With Georgia and Alabama
Florida’s average federal student loan balance was lower than Georgia’s but higher than Alabama’s. The three states use the same Federal Student Aid borrower-location series and the same March 31, 2026 reporting period.
Federal student loan debt in Florida and neighboring states
Outstanding federal balances and borrower counts by borrower location, March 31, 2026.
| State | Outstanding Balance | Borrowers | Average Balance per Borrower |
|---|---|---|---|
| Georgia | $74.6 billion | 1,702,700 | $43,813 |
| Florida | $113.1 billion | 2,747,700 | $41,162 |
| Alabama | $26.0 billion | 664,000 | $39,157 |
Average Federal Student Loan Balance in Florida and Neighboring States
Average outstanding balance per borrower by borrower location, March 31, 2026.
Federal Student Aid, Portfolio by Location, March 31, 2026.
How Florida compares with its neighbors
- Florida’s average balance of $41,162 was $2,651 lower than Georgia’s $43,813.
- Florida’s average was $2,005 higher than Alabama’s $39,157.
- Florida’s $113.1 billion total balance was much larger than either neighboring state because Florida also had a larger federal borrower population.
Where Florida Ranks by Average Federal Balance
Florida’s $41,162 average outstanding balance ranked fifth in the full Federal Student Aid location table when the District of Columbia is included. Among the 50 states alone, Florida ranked fourth, behind Maryland, Georgia, and Virginia.
The average-balance ranking is different from the total-balance ranking. Florida ranked third among states by total outstanding federal debt but fourth by average balance per borrower. A state can have a large total balance because it has many borrowers even when its average balance is lower than that of smaller states.
What the Florida Location Measure Means
Federal Student Aid assigns these figures according to the borrower’s reported location rather than the location of the college or university attended. Someone who attended college outside Florida and later moved to Florida can therefore be included in Florida’s borrower totals.
The reverse is also possible: a person who attended a Florida institution but now lives in another state may appear under that other location. The data therefore describes federal student loan debt associated with borrowers located in Florida, not debt generated by Florida colleges.
Federal Debt Is Not Total Student Loan Debt
The $113.1 billion figure covers the federal student loan portfolio reported by Federal Student Aid. Private education loans are a separate debt category and are not added to the Florida figure on this page.
The distinction also matters when comparing this figure with consumer-credit datasets. Federal Student Aid administrative records and credit-bureau student loan balances can differ in coverage, population, reporting timing, and loan type. Values from those systems should not be treated as interchangeable.
Data Notes
- The reporting period for the Florida figures is March 31, 2026.
- Federal Student Aid announced on June 23, 2026 that its quarterly Data Center reports had been refreshed with information through March 31, 2026.
- Outstanding balances and borrower counts are reported by borrower location. They do not represent the location of the institution attended.
- Average balance per borrower is an outstanding-balance measure, not average debt at graduation.
- The location dataset also contains categories outside the 50 states, District of Columbia, and Puerto Rico. State rows should therefore not be forced to reconcile to a separately reported national portfolio total.
- Federal and private student loan balances are separate data series and are not combined here.
Sources
- Portfolio by Location — U.S. Department of Education, Office of Federal Student Aid; Florida and state borrower-location balances and borrower counts through March 31, 2026.
- Federal Student Aid Posts Updated Reports to FSA Data Center — Federal Student Aid, June 23, 2026; confirms the quarterly portfolio report refresh through March 31, 2026.
Cite This Page
DebtData.org. (2026). Florida Student Loan Debt. https://debtdata.org/florida-student-loan-debt/“Florida Student Loan Debt.” DebtData.org, September 19, 2026, https://debtdata.org/florida-student-loan-debt/.DebtData.org. “Florida Student Loan Debt.” Published September 19, 2026. https://debtdata.org/florida-student-loan-debt/.