Student loan debt

Extracted Attributes

• Definition

  Debt incurred by an individual to pay for education-related expenses, most commonly for tertiary education.

• Impact in U.S.

  Major barrier to homeownership.

• Default Condition

  Considered defaulted after a given period of no response to requests by the school or lender for information, payment, or negotiation.

• Consequence of Default

  Debt is turned over to a student loan guarantor or a collection agency.

• Average Monthly Payment

  $200 - $299

• Estimated Repayment Time

  Close to 20 years

• Consumer Debt Category Ranking

  Second-highest after mortgages

• Median Student Loan Debt (2023)

  $20,000 - $24,999

• Outstanding Private Student Loan Debt

  $144.9 billion

• Average Federal Student Loan Debt (2024)

  $38,400 per borrower

• Number of Federal Student Loan Borrowers

  42.5 million

• Total Federal Student Loan Balance (2007)

  $516 billion

• Average Federal Student Loan Debt (2025 Q3)

  $39,375 per borrower

• Total Federal Student Loan Balance (2025 Q3)

  $1.67 trillion

• Average Student Loan Debt (Other races, 2022)

  $51,810

• Average Student Loan Debt (Public Institutions)

  $28,775

• Average Student Loan Debt (Foreign Institutions)

  $116,500

• Average Student Loan Debt (Hispanic adults, 2022)

  $26,460

• Average Student Loan Debt (Private, Nonprofit Institutions)

  $42,449

• Average Student Loan Debt (Black, non-Hispanic adults, 2022)

  $53,430

• Average Student Loan Debt (White, non-Hispanic adults, 2022)

  $46,140

• Average Cumulative Student Loan Debt (2020 Bachelor's - Public)

  $27,470

• Average Student Loan Debt (Proprietary/For-profit Institutions)

  $22,449

• Average Cumulative Student Loan Debt (2020 Bachelor's - For-profit)

  $40,877

• Average Cumulative Student Loan Debt (2020 Bachelor's - Private non-profit)

  $33,673

Timeline

• The federal student loan balance was $516 billion. (Source: web_search_results)

  2007-XX-XX

• Average student debt was approximately half of the average student debt in 2025 Q3. (Source: web_search_results)

  2008-XX-XX

• Average cumulative student loan debt for Bachelor's degree recipients by race/ethnicity and college type was recorded. (Source: web_search_results)

  2020-XX-XX

• Average student loan debt by race and ethnicity was recorded, with Black, non-Hispanic adults having the highest average at $53,430. (Source: web_search_results)

  2022-XX-XX

• The median student loan debt was between $20,000 and $24,999. (Source: web_search_results)

  2023-XX-XX

• Since the beginning of 2024, national student loan debt increased by 2.97%, total private student loan debt increased by 7.06%, total federal student loan debt decreased by 2.58%, and average federal student loan debt decreased by 3.30%. (Source: web_search_results)

  2024-01-01

• The average federal student loan balance was $38,400. (Source: web_search_results)

  2024-XX-XX

• The average student loan debt was $39,375, and the federal student loan balance reached $1.67 trillion. (Source: web_search_results)

  2025-Q3

Student debt

Student debt refers to the debt incurred by an individual to pay for education-related expenses. This debt is most commonly assumed to pay for tertiary education, such as university. The amount loaned or the loan agreement is often referred to as a student loan. In many countries, student loans work differently compared to mortgages with differing laws governing renegotiation and bankruptcy. As with most other types of debt, student debt may be considered defaulted after a given period of no response to requests by the school or the lender for information, payment, or negotiation. Afterward, the debt is turned over to a student loan guarantor or a collection agency.

Web Search Results

• Average Student Loan Debt [2025]: by Year, Age & More

  Students who used their federal loans to attend public institutions owe an average of $28,775. The average student who attended a private, nonprofit institution owes $42,449. Students who attended proprietary or for-profit private institutions owe an average of $22,449. Students of foreign institutions owe an average of $116,500. A little over 8.7 million borrowers who attended other types of institutions owe an average of $4,563 each in student loan debt. ### Average Federal Loan Debt [...] The average federal student loan debt is $39,075 per borrower. Outstanding private student loan debt totals $144.9 billion. The average student borrows over $30,000 to pursue a bachelor’s degree. A total of 42.5 million borrowers have federal student loan debt. It may take borrowers close to 20 years to pay off their student loans. Related reports include Total Student Loan Debt | Student Loan Debt by State | Student Loan Debt by Year | Student Loan Refinancing [...] Since the beginning of 2024, national student loan debt increased 2.97%. During that same period, the total private student loan debt increased by 7.06%. Since the beginning of 2024, the total federal student loan debt decreased by 2.58% and average federal student loan debt decreased 3.30% The average monthly payment among student loan holders is between $200 and $299. University graduates owe an average of $28,244 a year after they leave school.

• Average U.S. Student Loan Debt: 2025 Statistics | BestColleges

  Knowing the numbers behind rising student loan debt can help you make informed decisions about funding your education. This report rounds up the most recent data about student loan debt in the U.S. ## Average Student Loan Debt by Year According to Federal Student Aid, an office of the Department of Education, borrowers’ average student loan debt was $39,375 by the third quarter of 2025 [...] That’s about $1,000 more than the average student loan debt of 2024 and close to twice the average student debt of 2008. According to the Federal Reserve, the median student loan debt is somewhat lower than the average. The median debt, as of 2023, was between $20,000 and $24,999, meaning half of borrowers owed more and half owed less. ### Total Student Loan Debt by Year At $1.67 trillion, the federal student loan balance has more than tripled since 2007, when it was $516 billion. [...] … Find more detailed student loan debt information for each state in our report: Student Loan Debt by State. ## Average Student Loan Debt by Race and Ethnicity According to the Federal Reserve’s Survey of Consumer Finances, in 2022, the average student loan debt was: $53,430 for Black, non-Hispanic adults $46,140 for white, non-Hispanic adults $26,460 for Hispanic adults $51,810 for adults of other races

• [PDF] Quick Facts about Student Loan Debt

  Completers with Student Loan Debt by Race/Ethnicity (2020 Bachelor’s Degree Recipients) $30,554 $34,089 $26,449 $30,842 $0 $40,000 Asian Black or African American Hispanic or Latino White 51% 87% 63% 62% 0% 100% Asian Black or African American Hispanic or Latino White 4 Quick Facts about Student Loan Debt Graduates who received Pell Grants, most of whom had family incomes under $40,000, were much more likely to borrow, and borrowed more than their non-Pell peers. • 80 percent of graduating [...] degree recipients borrowed student loans and graduated with an average of $34,089, higher than the averages for white, Hispanic/Latino, and Asian graduates. Additionally, while average cumulative debt for Black, Hispanic/Latino, and white graduates in 2020 remained relatively consistent with graduates in 2016, average debt increased by more than $5,000 among Asian students. Figure 5: Average Cumulative Student Loan Debt by Race/Ethnicity (2020 Bachelor’s Degree Recipients) Figure 6: Share of [...] Figure 3: Average Cumulative Student Loan Debt by College Type (2020 Bachelor’s Degree Recipients) Figure 4: Share of Completers with Student Loan Debt by College Type (2020 Bachelor’s Degree Recipients) $27,470 $33,673 $40,877 $0 $40,000 Public Private non-profit For-profit 61% 66% 82% 0% 100% Public Private non-profit For-profit 3 Quick Facts about Student Loan Debt Black graduates were more likely to borrow and to borrow more than students of other races. Nearly 9 in 10 Black Bachelor’s

• Student Loan Debt Statistics [2025] - Education Data Initiative

  Line Graph: Average Federal Student Loan Balance in thousands from 2007 ($18.2) to 2024 ($38.4) according to the U.S. Department of Education ## Student Loan Borrower Statistics Student loan debt is now the second-highest consumer debt category after mortgages. Federal Student Loan Debt [...] Related reports include Total Student Loan Debt | Average Student Loan Debt | Student Loan Forgiveness | Student Loan Default Rate | Average Student Loan Payment | Student Loan Refinancing Total Student Loan Debt [...] ## Federal Student Loan Debt About half of undergraduates borrow money from the federal government. Line graph: Total Student Loan Debt as a Percentage of Gross Domestic Product from 2006 (3.8%) to 2024 (6.0%) according to the U.S. Federal Reserve Board of Governors and the U.S. Department of Commerce Bureau of Economic Analysis

• The Top 10 Student Loan Tips for Recent Graduates

  Whether you just graduated, are taking a break from school, or have already started repaying your student loans, these tips will help you keep your student loan debt under control. That means avoiding fees and extra interest costs, keeping your payments affordable, and protecting your credit rating. If you’re having trouble finding a job or keeping up with your payments, there’s important information here for you, too. #### 1. Know Your Loans: [...] student loan borrowers are income-driven repayment plans (IDR) such as Income-Based Repayment and Revised Pay As You Earn which cap your monthly payments at a reasonable percentage of your income each year, and forgive any debt remaining after no more than 25 years (depending on the plan) of affordable payments. Forgiveness may be available after just 10 years of these payments for borrowers in the public and nonprofit sectors (see tip 10 below). To find out more about income-driven repayment [...] It’s important to keep track of the lender, balance, and repayment status for each of your student loans. These details determine your options for loan repayment and forgiveness. If you’re not sure, ask your lender or visit StudentLoans.gov. You can log in and see the loan amounts, lender(s), and repayment status for all of your federal loans. If some of your loans aren’t listed, they’re probably private (non-federal) loans. For those, try to find a recent billing statement and/or the