Student Loans in Missouri

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

Average Debt

$28,800

Monthly Payment (Std)

$327

State Tax Deduction

Yes

vs. National Avg

$3,200

Student Loan Overview for Missouri

Missouri borrowers carry an average student loan debt of $28,800, which is near the national average of approximately $32,000. Under the Standard 10-year repayment plan at the current federal interest rate of 6.53%, Missouri graduates would pay $327 per month and a total of $10,440 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. Missouri residents working in public service should explore PSLF for potential forgiveness after 10 years of qualifying payments.

Missouri Student Loan Forgiveness Programs

Missouri offers the Health Professional State Loan Repayment Program and the Minority Teaching Scholarship.

In addition to state programs, Missouri 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

Missouri conforms to the federal student loan interest deduction. Borrowers can deduct up to $2,500 in student loan interest paid during the tax year on both their federal and Missouri state income tax returns. This deduction phases out for single filers earning $75,000-$90,000.

Top Missouri Colleges & Average Debt

Institution	Avg. Graduate Debt
Washington University in St. Louis	$28,000
University of Missouri	$26,000

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

Frequently Asked Questions

What is the average student loan debt in Missouri?

The average student loan borrower in Missouri graduates with approximately $28,800 in student loan debt. This is near the national average of $32,000.

Does Missouri offer student loan forgiveness?

Missouri offers the Health Professional State Loan Repayment Program and the Minority Teaching Scholarship.

Can I deduct student loan interest on Missouri state taxes?

Yes, Missouri conforms to the federal student loan interest deduction. You can deduct up to $2,500 in student loan interest paid on your Missouri state income tax return, subject to income limits.

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

Among Missouri institutions, Washington University in St. Louis has an average graduate debt of $28,000. In-state tuition at public universities is significantly lower than out-of-state rates.

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

Your best plan depends on your income and career. Missouri 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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