We've all seen the headlines before about college graduates and debt. A recent study took a look at all 50 states to see how much debt college graduates leave school with when they have graduated. While it's not a pretty picture for Texas students, things could look worse.

According to the Midland Reporter-Telegram, 56% of the state's college students will graduate with an average debt load of $26,292. While that is a lot of money, things could be worse.

As the article points out, Texas ranks 38th for average student debt size.

Texas ranks 38th for average student debt size when compared to the other 49 states. Similarly, Texas ranks 31st for the percentage of students with college debt.

The state with the highest average student loan debt was New Hampshire, with 74 percent of its college students graduating with $36,367 in loan debt.

In August the Houston Business Journal reported that Texas Tech students graduate with $29,214 in student loan debt.