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Student Loans in Virginia

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

Average Debt
$30,800
Monthly Payment (Std)
$350
State Tax Deduction
Yes
vs. National Avg
$1,200

Student Loan Overview for Virginia

Virginia borrowers carry an average student loan debt of $30,800, 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%, Virginia graduates would pay $350 per month and a total of $11,200 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. Virginia residents working in public service should explore PSLF for potential forgiveness after 10 years of qualifying payments.

Virginia Student Loan Forgiveness Programs

Virginia offers the Virginia Loan Repayment Program for healthcare providers and the Teaching Scholarship Loan Program.

In addition to state programs, Virginia 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

Virginia 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 Virginia state income tax returns. This deduction phases out for single filers earning $75,000-$90,000.

Top Virginia Colleges & Average Debt

InstitutionAvg. Graduate Debt
University of Virginia$27,000
Virginia Tech$28,000
William & Mary$29,000

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

Frequently Asked Questions

What is the average student loan debt in Virginia?

The average student loan borrower in Virginia graduates with approximately $30,800 in student loan debt. This is near the national average of $32,000.

Does Virginia offer student loan forgiveness?

Virginia offers the Virginia Loan Repayment Program for healthcare providers and the Teaching Scholarship Loan Program.

Can I deduct student loan interest on Virginia state taxes?

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

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

Among Virginia institutions, University of Virginia has an average graduate debt of $27,000. In-state tuition at public universities is significantly lower than out-of-state rates.

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

Your best plan depends on your income and career. Virginia 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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