U.S. Student loan borrowers owed a collective $1.6 trillion in federal and student that is private financial obligation as of March 2019, in accordance with the Board of Governors associated with the Federal Reserve System.
Listed here are key education loan financial obligation statistics to know: how borrowers that are much, the kinds of loans they’ve and how they’re repaying them.
Typical education loan financial obligation
Sixty-five per cent associated with the course of 2018 graduated with pupil financial obligation, in line with the latest information offered by The Institute for College Access & triumph, a nonprofit company that actively works to enhance advanced schooling access and affordability. The average student loan debt was $29,200 among these graduates.
The U.S. That is average household pupil financial obligation owes $47,671, in accordance with NerdWallet’s 2018 home financial obligation research.
Students whom pursue expert degree programs can get to defend myself against even more. Here’s exactly how the student that is average financial obligation compares for the course of 2018.
Sources: The Institute for College Access and triumph, Association of United states healthcare Colleges, American Dental Education Association, United states Association of Colleges of Pharmacy.
Total student loan debt that is federal
Most student loans — about 92%, based on a December 2018 report by MeasureOne, a academic data firm — are owned by the U.S. Department of Education.
- Total federal education loan borrowers: 43 million.
- Total outstanding student that is federal financial obligation: $1.4 trillion.