Student Loans in Florida

Average debt, state-specific forgiveness programs, and repayment strategies for Florida borrowers in 2026.

Average Debt

$24,180

Monthly Payment (Std)

$275

State Tax Deduction

vs. National Avg

$7,820

Student Loan Overview for Florida

Florida borrowers carry an average student loan debt of $24,180, which is below the national average of approximately $32,000. Under the Standard 10-year repayment plan at the current federal interest rate of 6.53%, Florida graduates would pay $275 per month and a total of $8,820 in interest over the life of the loan.

For borrowers seeking lower monthly payments, income-driven repayment plans like SAVE (formerly REPAYE) cap payments at 5-10% of discretionary income. Florida residents working in public service should explore PSLF for potential forgiveness after 10 years of qualifying payments.

Florida Student Loan Forgiveness Programs

Florida has no state income tax. The state offers the Critical Teacher Shortage Loan Forgiveness program and the Nursing Student Loan Forgiveness Program.

In addition to state programs, Florida borrowers have access to all federal forgiveness programs including PSLF, Teacher Loan Forgiveness ($17,500 for STEM and special education teachers), and income-driven repayment forgiveness after 20-25 years.

State Tax Deduction for Student Loan Interest

Florida does not have a state income tax, so there is no state-level student loan interest deduction. However, you can still claim the federal deduction of up to $2,500 on your federal tax return.

Top Florida Colleges & Average Debt

Institution	Avg. Graduate Debt
University of Florida	$21,000
Florida State University	$24,000
University of Miami	$38,000

* Debt figures are approximate averages for graduating students who borrowed.

Frequently Asked Questions

What is the average student loan debt in Florida?

The average student loan borrower in Florida graduates with approximately $24,180 in student loan debt. This is below the national average of $32,000.

Does Florida offer student loan forgiveness?

Florida has no state income tax. The state offers the Critical Teacher Shortage Loan Forgiveness program and the Nursing Student Loan Forgiveness Program.

Can I deduct student loan interest on Florida state taxes?

Florida does not have a state income tax, so there is no state-level deduction. You can still claim the federal deduction of up to $2,500 on your federal return.

What are the best colleges in Florida for low student debt?

Among Florida institutions, University of Florida has an average graduate debt of $21,000. In-state tuition at public universities is significantly lower than out-of-state rates.

What repayment plan should I use for student loans in Florida?

Your best plan depends on your income and career. Florida residents earning under $50,000 should consider the SAVE plan for the lowest payments. Those in public service should pursue PSLF. Higher earners may benefit from the Standard plan or refinancing.

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