The states where borrowers owe the most in federal student loans, ranked by average balance

• The total federal student loan portfolio now exceeds $1.72 trillion, with 42.3 million borrowers.
• Borrowers in Maryland owe an average of $45,589 — over $4,000 more than the national average.
• Texas has the highest number of borrowers, while California has the highest total balance.

For millions of Americans, the cost of a college education doesn't end after graduation.

As of June 30, 42.3 million people held more than $1.72 trillion in outstanding federal student loans, according to the Department of Education.

With the yearly sticker cost of attending some colleges surpassing the six-figure mark, many students and families turn to loans that can take years — or even decades — to repay.

Across the country, federal student loan borrowers carry an estimated average balance of $40,768 according to Business Insider's analysis of the latest federal portfolio data released by the Department of Education.

The Department of Education reports the total outstanding federal loan balances and the number of borrowers by their current state of residence. Business Insider reviewed the department's latest release and ranked all 50 US states by the average balance owed by borrowers living in each state.

While the federal data doesn't reflect the colleges borrowers attended, where they took out their loans, or how much students currently borrow, it shows where borrowers live now and how the federal student loan portfolio is spread across the nation.

See how every state compares — and where borrowers owe the most on average.

50. North Dakota

Balance: $2.7 billion

Borrowers: 88,400

Estimated average balance per borrower: $30,543

49. South Dakota

Balance: $3.7 billion

Borrowers: 116,700

Estimated average balance per borrower: $31,705

48. Iowa

Balance: $13.5 billion

Borrowers: 423,400

Estimated average balance per borrower: $31,885

47. Wyoming

Balance: $1.8 billion

Borrowers: 54,800

Estimated average balance per borrower: $32,847

46. Oklahoma

Balance: $17.1 billion

Borrowers: 510,700

Estimated average balance per borrower: $33,483

45. Nebraska

Balance: $8.2 billion

Borrowers: 243,500

Estimated average balance per borrower: $33,676

44. West Virginia

Balance: $7.7 billion

Borrowers: 228,300

Estimated average balance per borrower: $33,728

43. Wisconsin

Balance: $24.0 billion

Borrowers: 709,100

Estimated average balance per borrower: $33,846

42. Rhode Island

State total balance: $5.1 billions

Borrowers: 149,700

Estimated average balance per borrower: $34,068

41. Indiana

Balance: $31.0 billions

Borrowers: 898,500

Estimated average balance per borrower: $34,502

40. Kansas

Balance: $13.1 billion

Borrowers: 379,300

Estimated average balance per borrower: $34,537

39. Idaho

Balance: $7.5 billion

Borrowers: 216,500

Estimated average balance per borrower: $34,642

38. Texas

Balance: $138.3 billion

Borrowers: 3,949,800

Estimated average balance per borrower: $35,014

37. Kentucky

Balance: $21.6 billion

Borrowers: 615,600

Estimated average balance per borrower: $35,088

36. New Mexico

Balance: $8.0 billion

Borrowers: 226,000

Estimated average balance per borrower: $35,398

35. Utah

Balance: $11.1 billion

Borrowers: 313,300

Estimated average balance per borrower: $35,429

34. Arkansas

Balance: $14.5 billion

Borrowers: 408,400

Estimated average balance per borrower: $35,504

33. Minnesota

Balance: $27.5 billion

Borrowers: 772,600

Estimated average balance per borrower: $35,594

32. Montana

Balance: $4.5 billions

Borrowers: 126,400

Estimated average balance per borrower: $35,601

31. Nevada

Balance: $13.2 billion

Borrowers: 367,900

Estimated average balance per borrower: $35,879

30. Maine

Balance: $6.7 billions

Borrowers: 186,600

Estimated average balance per borrower: $35,906

29. Louisiana

Balance: $25.1 billions

Borrowers: 694,000

Estimated average balance per borrower: $36,167

28. New Hampshire

Balance: $6.8 billion

Borrowers: 187,700

Estimated average balance per borrower: $36,228

27. Ohio

Balance: $64.3 billion

Borrowers: 1,770,800

Estimated average balance per borrower: $36,311

26. Missouri

Balance: $30.6 billion

Borrowers: 826,500

Estimated average balance per borrower: $37,024

25. Massachusetts

Balance: $33.4 billion

Borrowers: 900,600

Estimated average balance per borrower: $37,086

24. Arizona

Balance: $34.0 billion

Borrowers: 916,100

Estimated average balance per borrower: $37,114

23. Alaska

Balance: $2.4 billion

Borrowers: 64,500

Estimated average balance per borrower: $37,209

22. Pennsylvania

Balance: $69.6 billion

Borrowers: 1,853,900

Estimated average balance per borrower: $37,542

21. Washington

Balance: $29.6 billion

Borrowers: 776,100

Estimated average balance per borrower: $38,139

20. Connecticut

Balance: $19.8 billion

Borrowers: 515,400

Estimated average balance per borrower: $38,417

19. Michigan

Balance: $53.2 billion

Borrowers: 1,377,300

Estimated average balance per borrower: $38,626

18. Tennessee

Balance: $34.6 billion

Borrowers: 894,900

Estimated average balance per borrower: $38,664

17. Vermont

Balance: $2.9 billion

Borrowers: 74,800

Estimated average balance per borrower: $38,770

16. Colorado

Balance: $29.7 billion

Borrowers: 764,600

Estimated average balance per borrower: $38,844

15. Mississippi

Balance: $17.8 billions

Borrowers: 456,300

Estimated average balance per borrower: $39,009

14. Alabama

Balance: $26.0 billion

Borrowers: 664,000

Estimated average balance per borrower: $39,157

13. New Jersey

Balance: $48.4 billion

Borrowers: 1,235,500

Estimated average balance per borrower: $39,174

12. Oregon

Balance: $20.8 billion

Borrowers: 526,600

Estimated average balance per borrower: $39,499

11. California

Balance: $156.7 billion

Borrowers: 3,919,500

Estimated average balance per borrower: $39,980

10. South Carolina

Balance: $31.4 billion

Borrowers: 782,300

Estimated average balance per borrower: $40,138

9. North Carolina

Balance: $55.8 billion

Borrowers: 1,379,300

Estimated average balance per borrower: $40,455

8. Hawaii

Balance: $4.9 billion

Borrowers: 121,000

Estimated average balance per borrower: $40,496

7. Delaware

Balance: $5.6 billion

Borrowers: 137,800

Estimated average balance per borrower: $40,639

6. New York

Balance: $99.9 billion

Borrowers: 2,456,600

Estimated average balance per borrower: $40,666

5. Illinois

Balance: $65.3 billion

Borrowers: 1,601,500

Estimated average balance per borrower: $40,774

4. Florida

Balance: $113.1 billion

Borrowers: 2,747,700

Estimated average balance per borrower: $41,162

3. Virginia

Balance: $45.5 billion

Borrowers: 1,085,500

Estimated average balance per borrower: $41,916

2. Georgia

Balance: $74.6 billion

Borrowers: 1,702,700

Estimated average balance per borrower: $43,813

1. Maryland

Balance: $38.4 billion

Borrowers: 842,300

Estimated average balance per borrower: $45,589

Read the original article on Business Insider