As of 2026, about 43 million Americans carry federal student loan debt, and when private loans are included, the total number of borrowers exceeds 45 million. That means roughly 1 in 8 people in the United States has at least one student loan. This article breaks down the latest numbers, who owes the most, and what you can do if you’re one of them.
How Many Borrowers Are There?
The most reliable data comes from the U.S. Department of Education, which tracks federal loans. As of early 2026, approximately 43 million borrowers hold federal student loans. Private student loans add a few million more, but exact counts are harder to pin down because private lenders don’t report to a central database.
Here’s a quick snapshot of the numbers:
| Loan Type | Number of Borrowers (approx.) |
|---|---|
| Federal student loans | 43 million |
| Private student loans | 2-3 million (overlapping with federal) |
| Total unique borrowers | ~45 million |
These numbers include undergraduate and graduate students, as well as parents who took out PLUS loans. They also include people who have defaulted or are in forbearance.
Who Owes Student Loan Debt?
Student loan borrowers are not all recent graduates. In fact, many are older adults who went back to school or took on loans for their children. Here are some key groups:
- Young adults (under 25): About 7 million borrowers, often still in school or just starting repayment.
- Ages 25-34: The largest group, with about 15 million borrowers.
- Ages 35-49: About 12 million borrowers, many of whom are still paying off their own education.
- Ages 50 and older: About 9 million borrowers, including parents with PLUS loans.
Women hold about two-thirds of all student loan debt, partly because they enroll in college at higher rates and often earn less after graduation, making repayment harder.
How Much Debt Is Out There?
The total outstanding student loan debt in the U.S. is over $1.7 trillion. That’s more than credit card debt or auto loans. The average federal borrower owes about $37,000, but that number varies widely by degree type.
Here’s a breakdown by education level:
| Degree Level | Average Debt at Graduation |
|---|---|
| Associate degree | $20,000 |
| Bachelor’s degree | $30,000 |
| Master’s degree | $55,000 |
| Professional degree (law, med) | $150,000+ |
These are averages, so many borrowers owe less, and some owe much more. A small percentage of borrowers owe over $200,000, usually from graduate school.
Why Do So Many People Have Student Loans?
The main reason is the rising cost of college. Over the past 20 years, tuition at public four-year colleges has more than doubled, even after adjusting for inflation. At the same time, state funding for higher education has not kept up, so schools have shifted costs to students.
Most students can’t pay for college out of pocket. Grants and scholarships help, but they often don’t cover the full cost. That leaves student loans as the primary way to bridge the gap. As of 2026, about 60% of bachelor’s degree recipients graduate with debt.
What Does This Mean for You?
If you have student loans, you’re not alone. But it’s important to know your options. Here are a few practical steps:
- Check your loan balance and servicer at the federal Student Aid website.
- Explore income-driven repayment plans, which cap your monthly payment at a percentage of your income.
- Look into public service loan forgiveness if you work in a qualifying nonprofit or government job.
- Consider refinancing only if you have private loans and a good credit score—refinancing federal loans means losing federal protections.
If you’re a student about to take out loans, borrow only what you need. Use federal loans first, because they offer lower fixed rates and flexible repayment options. Avoid private loans unless absolutely necessary.
How to Find Your Exact Number
The exact number of borrowers changes monthly as people graduate, repay, or default. The most current federal data is published quarterly by the Department of Education. For the most accurate picture, you can check the Federal Student Aid Data Center, which reports the number of borrowers and total debt.
Remember that the 43 million figure includes only federal loans. If you have private loans, they are not counted in that total. So the true number of people with any student loan is higher, but the federal data is the best public source.
Summary
In 2026, about 45 million Americans have student loan debt, with 43 million holding federal loans. The total debt exceeds $1.7 trillion, and the average borrower owes around $37,000. If you have student loans, you’re part of a large group—and there are resources to help you manage them. Start by understanding your own balance and repayment options, and make a plan that fits your budget.
Frequently Asked Questions
How many people have student loans in the US?
About 43 million Americans have federal student loans, and when private loans are included, the total is around 45 million borrowers.
What is the average student loan debt per person?
The average federal borrower owes about $37,000, but the amount varies widely by degree type and school.
Do most college graduates have student loans?
Yes, about 60% of bachelor’s degree recipients graduate with student loan debt.
Can I find out how many student loan borrowers there are right now?
Yes, the Federal Student Aid Data Center publishes updated numbers quarterly, showing the current count of borrowers and total debt.
Are student loans more common among young people?
No, borrowers are spread across all age groups, with the largest group being those aged 25 to 34, but many older adults also carry student debt.
