President Biden has unveiled his long-awaited plan to forgive up to $10,000 in federal student loans for Americans earning less than $125,000 a year (and up to $20,000 for Pell Grant recipients).
So how does Rhode Island compare to the rest of the country when it comes to student debt?
You can find various comparisons around the web, but The Institute for College Access and Success has been studying student debt for 15 years, and it publishes an annual state-by-state report on the issue.
For the college graduating class of 2020, here’s a look at the states with the highest and lowest average student loan debt.
Those numbers increase when you factor in private student loan debt. In Rhode Island, the average is $44,576, which ranks No. 6 in the country.
We’re still waiting for all the details of Biden’s plan, but the White House projects that 40 million Americans will be eligible for relief.
In the meantime, the federal student loan payment freeze that was expected to expire next week will be extended until at least the end of the year.
This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, data about the coronavirus in the state, and more. If you’d like to receive it via e-mail Monday through Friday, you can sign up here.