How much do Californians owe in federal student loans?

Rhea Caoile
·2 min read
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SAN DIEGO (FOX 5/KUSI) — While President Biden canceled nearly $6 million in student loan debt for an additional 77,700 public service workers last week, there are thousands of Californians still playing catchup with their payments.

The Office of Federal Student Aid says California is the state with the most federal student loan debt, with nearly four thousand borrowers owing a total of $146.7 billion as of last September.

The state of Texas follows second with over $125 billion in student loan debt, according to the office.

Biden cancels nearly $6 billion in student debt for 77,700 public service workers

Data shows that most borrowers in California are between the ages of 25 and 34, but the age group with the highest debt are people ages 35 to 49.

As people figure out how to pay back their federal student loans, the cost of attending college is not getting any cheaper.

The University of San Diego‘s website states full-time tuition for the 2024-2025 academic year is over $58,000. That’s compared to $55,690 from 2023-2024.

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San Diego State University will be increasing its tuition this coming fall, according to its website, saying the cost will go up by 6% each year for the next five years. Currently, SDSU costs $8,290 in tuition and fees for in-state students. Starting in the academic year 2024-2025, basic tuition and fees will cost $8,728.

Meanwhile, the University of California San Diego, which uses the UC systemwide tuition and fees, costs $18,480 as of the current academic year. That does not include additional expenses like course materials, housing and transportation. For academic year 2022-2023, UC tuition and fees were $17,361.

Since the Supreme Court blocked the Biden Administration’s original student loan forgiveness plan, the president has been slowly issuing various executive actions to cancel student loan debt.

According to a statement from the White House in February, nearly $138 billion in student debt has been canceled for nearly four million borrowers under more than two dozen executive actions.

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