Student Loan Debt Soars Above $1.6 Trillion as States Take Action to Inform and Protect Borrowers
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California, Texas, and Florida have the highest total student loan balances, while Wyoming, Alaska, and North Dakota have the lowest.
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Total student loan debt has now reached over $1.6 trillion nationally.
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Some states like Connecticut, Colorado, Louisiana, and Maine have introduced legislation around licensing and registering private student loan lenders.
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A few states have "Right to Know" laws to better inform high school students on college costs and loans.
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States are trying to address the mounting student debt crisis with new laws and resources for students and families.