Connecticut undeniably ranks first with the highest expenditure on higher education, investing an impressive $1,734 per person holding a bachelor’s degree or higher. New Jersey and Illinois claim the second and third spots, respectively, demonstrating significant commitment to educational funding. Meanwhile, Florida ranks bottom, allocating a mere $572 per person with a bachelor’s degree or higher.
CEOWORLD magazine conducted a thorough analysis using data from the U.S. Bureau of Economic Analysis and the United States Census Bureau. This research calculated total expenditures on higher education across each state and compared these figures to the number of individuals with a bachelor’s degree or higher, ultimately determining the expenditure per higher education certificate holder. This clear methodology solidified the rankings of the states based on their financial investment in education.
Connecticut leads the nation in higher education expenditure, dedicating an impressive $1,734 per person with a bachelor’s degree or higher. In 2022, this state invested a substantial $3.8 billion in higher education, benefiting a population of 2,200,664 individuals who hold a degree. This results in a significant per capita expenditure of $1,058.39. New Jersey firmly holds second place, spending $1,720 per resident with a bachelor’s degree or higher. With a population of 5,762,623 degree holders, the state made a robust investment of $9.9 billion in higher education that year, translating to a per capita expenditure of $1,066.93.
U.S. States with the Highest Spending on College Education, 2025
| Rank | State | Higher education expenditure (USD) | Population with degree or higher | Expenditure per population with a degree or higher (USD) |
|---|---|---|---|---|
| 1 | Connecticut | 3,816,500,000 | 2,200,664 | 1734 |
| 2 | New Jersey | 9,910,700,000 | 5,762,623 | 1720 |
| 3 | Illinois | 11,389,500,000 | 6,743,633 | 1689 |
| 4 | New Hampshire | 1,381,500,000 | 863,094 | 1601 |
| 5 | Pennsylvania | 10,156,900,000 | 6,596,301 | 1540 |
| 6 | Mississippi | 1,485,800,000 | 995,145 | 1493 |
| 7 | Delaware | 797,700,000 | 537,764 | 1486 |
| 8 | Michigan | 6,815,700,000 | 4,597,388 | 1483 |
| 9 | Alaska | 427,500,000 | 304,946 | 1402 |
| 10 | Rhode Island | 887,100,000 | 636,956 | 1393 |
| 11 | Louisiana | 2,336,700,000 | 1,717,379 | 1361 |
| 12 | Massachusetts | 6,451,200,000 | 4,767,149 | 1353 |
| 13 | Kentucky | 2,344,900,000 | 1,771,352 | 1324 |
| 14 | Ohio | 6,966,100,000 | 5,331,702 | 1307 |
| 15 | Minnesota | 4,105,600,000 | 3,146,730 | 1305 |
| 16 | Alabama | 2,658,300,000 | 2,046,223 | 1299 |
| 17 | South Carolina | 3,164,300,000 | 2,447,217 | 1293 |
| 18 | Hawaii | 953,500,000 | 740,322 | 1288 |
| 19 | Arkansas | 1,375,500,000 | 1,073,573 | 1281 |
| 20 | Tennessee | 3,900,300,000 | 3,109,117 | 1254 |
| 21 | California | 25,346,400,000 | 20,333,085 | 1247 |
| 22 | Indiana | 3,466,300,000 | 2,789,327 | 1243 |
| 23 | Vermont | 522,600,000 | 421,406 | 1240 |
| 24 | West Virginia | 777,000,000 | 643,336 | 1208 |
| 25 | Maine | 907,100,000 | 758,244 | 1196 |
| 26 | Missouri | 3,318,200,000 | 2,803,410 | 1184 |
| 27 | Maryland | 4,479,700,000 | 3,848,060 | 1164 |
| 28 | Virginia | 6,013,100,000 | 5,169,839 | 1163 |
| 29 | Kansas | 1,629,300,000 | 1,418,723 | 1148 |
| 30 | Wisconsin | 3,184,900,000 | 2,798,888 | 1138 |
| 31 | New Mexico | 1,023,400,000 | 900,791 | 1136 |
| 32 | Oklahoma | 1,743,000,000 | 1,552,877 | 1123 |
| 33 | South Dakota | 439,500,000 | 391,836 | 1122 |
| 34 | Nebraska | 997,600,000 | 926,271 | 1077 |
| 35 | North Dakota | 366,400,000 | 341,503 | 1073 |
| 36 | Texas | 14,591,700,000 | 13,659,232 | 1069 |
| 37 | Iowa | 1,533,100,000 | 1,435,787 | 1067 |
| 38 | Arizona | 3,552,500,000 | 3,410,861 | 1042 |
| 39 | New York | 11,903,300,000 | 11,478,789 | 1037 |
| 40 | Georgia | 5,355,500,000 | 5,216,422 | 1027 |
| 41 | Wyoming | 236,700,000 | 240,054 | 986 |
| 42 | Idaho | 811,900,000 | 842,415 | 964 |
| 43 | Nevada | 1,082,000,000 | 1,221,896 | 886 |
| 44 | North Carolina | 4,765,500,000 | 5,431,440 | 877 |
| 45 | Oregon | 1,951,700,000 | 2,249,716 | 868 |
| 46 | Colorado | 3,167,500,000 | 3,834,558 | 826 |
| 47 | Montana | 431,600,000 | 554,950 | 778 |
| 48 | Utah | 1,224,600,000 | 1,583,633 | 773 |
| 49 | Washington | 3,399,700,000 | 4,425,507 | 768 |
| 50 | Florida | 6,444,800,000 | 11,259,272 | 572 |
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