State by State Benefits for Students
After the First Rate Reduction on July 1, 2008
State |
Number of Subsidized Loan Borrowers at 4-Year Institutions (2004-2005) |
Average Subsidized Stafford Loan Debt for 4-Year Graduate |
Savings for the Average Student Starting School in 2008 over the Life of the Loan |
AK |
5,119 |
$12,854 |
$2,390 |
AL |
62,996 |
$13,572 |
$2,530 |
AR |
39,385 |
$13,022 |
$2,420 |
AZ |
33,049 |
$14,801 |
$2,750 |
CA |
228,489 |
$15,125 |
$2,820 |
CO |
45,588 |
$13,455 |
$2,500 |
CT |
33,567 |
$14,263 |
$2,660 |
DC |
16,437 |
$14,611 |
$2,720 |
DE |
9,534 |
$13,927 |
$2,590 |
FL |
125,475 |
$13,663 |
$2,540 |
GA |
83,942 |
$13,234 |
$2,460 |
HI |
8,752 |
$14,321 |
$2,660 |
IA |
53,285 |
$13,944 |
$2,590 |
ID |
26,305 |
$13,221 |
$2,460 |
IL |
128,765 |
$14,111 |
$2,630 |
IN |
94,267 |
$12,967 |
$2,410 |
KS |
42,932 |
$13,827 |
$2,570 |
KY |
46,963 |
$13,026 |
$2,420 |
LA |
68,261 |
$13,077 |
$2,430 |
MA |
98,990 |
$13,994 |
$2,600 |
MD |
48,484 |
$14,096 |
$2,620 |
ME |
21,210 |
$13,173 |
$2,450 |
MI |
143,699 |
$13,256 |
$2,470 |
MN |
67,468 |
$13,480 |
$2,510 |
MO |
82,921 |
$13,305 |
$2,480 |
MS |
36,603 |
$14,640 |
$2,730 |
MT |
16,212 |
$12,587 |
$2,340 |
NC |
92,244 |
$13,332 |
$2,480 |
ND |
17,358 |
$12,890 |
$2,400 |
NE |
28,021 |
$13,248 |
$2,470 |
NH |
20,317 |
$13,853 |
$2,580 |
NJ |
61,221 |
$14,367 |
$2,670 |
NM |
20,899 |
$12,792 |
$2,380 |
NV |
10,545 |
$13,655 |
$2,540 |
NY |
243,696 |
$14,276 |
$2,660 |
OH |
173,312 |
$13,495 |
$2,510 |
OK |
47,528 |
$13,535 |
$2,520 |
OR |
40,721 |
$14,832 |
$2,760 |
PA |
211,832 |
$13,866 |
$2,580 |
RI |
19,649 |
$13,822 |
$2,570 |
SC |
48,433 |
$14,301 |
$2,660 |
SD |
19,727 |
$13,122 |
$2,440 |
TN |
67,410 |
$13,886 |
$2,580 |
TX |
205,508 |
$14,233 |
$2,650 |
UT |
35,000 |
$12,988 |
$2,420 |
VA |
73,696 |
$13,842 |
$2,580 |
VT |
13,575 |
$13,671 |
$2,550 |
WA |
47,631 |
$14,594 |
$2,720 |
WI |
75,905 |
$13,379 |
$2,490 |
WV |
35,194 |
$12,579 |
$2,340 |
WY |
3,904 |
$13,836 |
$2,580 |
U.S. |
3,301,841 |
$13,821 |
$2,570 |
Source: U.S. PIRG
State by State Benefits for Students Once the Rate Reduction is Fully Phased In (As of July 1, 2011)
State |
Total increase in loan and Pell aid to students and families over 5 years* |
Interest rate cut savings PER STUDENT over the life of the loan at 4-year school (once fully phased in) |
Total Number of Students Who Receive the Pell Grant* |
AK |
$25,010,000 |
$4,110 |
4,818 |
AL |
$540,194,000 |
$4,340 |
102,443 |
AR |
$308,888,000 |
$4,170 |
58,536 |
AZ |
$1,198,858,000 |
$4,730 |
212,968 |
CA |
$3,034,928,000 |
$4,830 |
574,226 |
CO |
$465,959,000 |
$4,310 |
83,566 |
CT |
$217,043,000 |
$4,560 |
38,698 |
DC |
$170,247,000 |
$4,680 |
19,664 |
DE |
$51,402,000 |
$4,460 |
9,217 |
FL |
$1,505,013,000 |
$4,370 |
300,621 |
GA |
$859,007,000 |
$4,230 |
179,861 |
HI |
$62,348,000 |
$4,580 |
11,528 |
IA |
$430,355,000 |
$4,460 |
78,855 |
ID |
$159,419,000 |
$4,230 |
30,105 |
IL |
$1,212,459,000 |
$4,510 |
211,882 |
IN |
$707,953,000 |
$4,140 |
139,985 |
KS |
$282,419,000 |
$4,420 |
52,409 |
KY |
$433,109,000 |
$4,170 |
82,447 |
LA |
$479,452,000 |
$4,180 |
94,109 |
MA |
$522,318,000 |
$4,470 |
77,196 |
MD |
$370,576,000 |
$4,510 |
69,868 |
ME |
$105,062,000 |
$4,210 |
19,035 |
MI |
$921,601,000 |
$4,240 |
180,247 |
MN |
$482,555,000 |
$4,310 |
76,530 |
MO |
$596,737,000 |
$4,250 |
105,620 |
MS |
$400,755,000 |
$4,680 |
76,554 |
MT |
$95,840,000 |
$4,680 |
17,185 |
NC |
$770,979,000 |
$4,270 |
146,917 |
ND |
$78,578,000 |
$4,120 |
13,623 |
NE |
$158,075,000 |
$4,240 |
28,679 |
NH |
$85,113,000 |
$4,430 |
13,605 |
NJ |
$549,393,000 |
$4,600 |
103,953 |
NM |
$201,274,000 |
$4,090 |
42,096 |
NV |
$84,107,000 |
$4,370 |
16,876 |
NY |
$2,217,665,000 |
$4,570 |
378,883 |
OH |
$1,102,568,000 |
$4,320 |
204,024 |
OK |
$401,136,000 |
$4,330 |
77,576 |
OR |
$351,223,000 |
$4,740 |
62,368 |
PA |
$1,177,961,000 |
$4,440 |
186,323 |
RI |
$127,454,000 |
$4,420 |
21,590 |
SC |
$395,164,000 |
$4,580 |
77,145 |
SD |
$92,482,000 |
$4,200 |
16,725 |
TN |
$549,634,000 |
$4,440 |
104,012 |
TX |
$2,175,219,000 |
$4,550 |
427,159 |
UT |
$290,591,000 |
$4,160 |
60,848 |
VA |
$544,536,000 |
$4,430 |
98,486 |
VT |
$60,884,000 |
$4,370 |
8,584 |
WA |
$442,190,000 |
$4,670 |
85,236 |
WI |
$384,752,000 |
$4,280 |
67,945 |
WV |
$210,298,000 |
$4,020 |
37,297 |
WY |
$50,318,000 |
$4,420 |
8,544 |
*Estimates of student loan reform and additional eligibility for Pell Grant aid based on estimates of current state allocation. Estimates include additional increases in discretionary funding for the Pell Grant scholarship.