"Nothing in life is to be feared. It is only to be understood."
Average Student Loan Debt Statistics by School by State 2019
Source Date:
Wednesday, August 8, 2018
It's no secret that student loans are a hot topic in the United States nowadays. They are mentioned in the news, both in a positive and negative light, almost every day.
With all of this news circulating around the internet, television, and in print - it is natural to become curious about the numbers behind student loan debt.
$1.52 trillion the total amount of outstanding student loan debt
45 million the total number of student loan borrowers
$27,975 the average student loan debt per borrower from the Class of 2016
$16,723 the average student loan debt per graduate from the Class of 2016
60% the percentage of graduates from the Class of 2016 with student debt
11.5% the average federal student loan default rate
$351 the average monthly student loan payment for borrowers aged 20 to 30
$203 the median monthly student loan payment for borrowers aged 20 to 30
$57,600 the average student loan debt per graduate student
$26,828 the average debt per borrower at public schools from the Class of 2016
$30,281 the average debt per borrower at private schools from the Class of 2016
$127 billion the Department of Education's estimated profit over the next 10 years