Miami-Dade and Broward Feel the Weight of Florida’s Student Debt
Student loan debt continues to shape the lives of millions of Americans, and South Florida is no exception. A new study by ChicksX revealed that Florida ranks fourth nationwide in average student debt, with borrowers owing an average of $39,574 each — that’s $3,244 (8.9%) above the national average of $36,330.
In total, Floridians owe $108.1 billion across 2.7 million borrowers, and counties like Miami-Dade and Broward account for a large share of that burden. In these metropolitan areas, where college enrollment rates are high and the cost of living keeps climbing, young adults are facing a financial reality that affects their choices regarding careers, housing, and spending.
Impact on South Florida’s young professionals
South Florida is home to major universities and colleges, including Florida International University (FIU), the University of Miami, and Broward College. These institutions attract both local and international students. While they provide valuable academic opportunities, they also increase the number of graduates who rely heavily on loans to pay for tuition, housing, and other expenses.
In Miami-Dade, economists note that student debt has become one of the key reasons why young professionals delay buying a home — a particularly tough challenge given the already overheated housing market. In Broward County, many graduates postpone decisions such as starting families or launching small businesses because of the heavy monthly burden of loan repayments.
Florida compared to other states
While states like Maryland ($43,781) and Georgia ($42,226) surpass Florida in average student debt per borrower, the Sunshine State still sits among the highest, highlighting the pressure locals face as they enter the workforce owing far above the U.S. average.
As ChicksX CEO Al Alof explained, compounding interest makes this problem worse: “Depending on the type of loan and repayment plan, the total debt can end up much higher than the original amount, leaving many graduates financially trapped after leaving university.”
Looking ahead
In both Miami-Dade and Broward, community leaders and student advocates are urging stronger financial education programs beginning in high school, as well as state and federal initiatives to ease repayment burdens. Experts recommend that prospective students carefully weigh educational costs against long-term repayment expectations and avoid borrowing without a plan.
In short, student debt is not just a nationwide statistic — in South Florida, it is a pressing reality delaying life milestones, holding back economic mobility, and underscoring the urgent need for more sustainable solutions.
