The average student loan debt in the United States is about $37,000 per borrower. This number includes both federal and private loans for students who attended four-year colleges. However, your own debt can be much lower or higher depending on the type of school you choose and how you borrow.
Knowing the average helps you plan for college without taking on too much debt. It also gives you a benchmark to compare your own loan offers. In this article, you will learn how the average breaks down by degree, how it has changed, and what you can do to keep your debt manageable.
What is the current average student loan debt?
As of 2026, the average student loan debt for a bachelor’s degree graduate is about $37,000. This figure comes from federal data and includes both public and private nonprofit colleges. For all borrowers—including those with associate degrees and graduate degrees—the average is closer to $40,000.
It is important to note that this average only includes borrowers who actually have loans. About 40% of college graduates finish with no debt at all. So, if you do borrow, you might be in the same range as the average, but many people owe less.
Average debt by degree type
| Degree Level | Average Debt at Graduation | Typical Repayment Period |
|---|---|---|
| Associate Degree | $20,000 | 10 years |
| Bachelor’s Degree | $37,000 | 10–20 years |
| Master’s Degree | $54,000 | 10–25 years |
| Doctoral or Professional Degree | $100,000+ | 20–25 years |
These numbers are averages, so your own debt could be different. A student who attends an in-state public university and works part-time will likely owe much less than someone who attends a private school or out-of-state school. The key is to look at your own situation, not just the national average.
Why the average student loan debt matters
The average debt number gives you a starting point for making smart borrowing decisions. If you are considering a school that would require you to borrow more than the average, you need a plan. For example, borrowing $50,000 for a degree that leads to a $35,000 starting salary might be risky.
On the other hand, if your future career has a high earning potential, a higher loan amount might still be affordable. The average debt is not a limit—it’s a reference point. Use it to ask yourself: “Can I realistically pay this back?”
How the average has changed over time
The average student loan debt has grown over the past 20 years, but it has slowed recently. In 2004, the average for a bachelor’s degree was about $19,000. By 2016, it reached $30,000, and by 2026 it sits at $37,000. This growth is due to rising tuition costs and more students borrowing to cover expenses.
However, the rate of increase has slowed in the last few years. Many states have increased funding for public universities, and some colleges have frozen tuition. Still, the overall trend is upward, so it is wise to borrow conservatively.
What affects your personal student loan debt?
Your own debt will depend on several factors that you control. Here are the most important ones:
- Type of school: Public in-state schools are usually cheaper than private or out-of-state schools.
- Length of time in school: Graduating in four years instead of five or six reduces your total borrowing.
- Use of grants and scholarships: Free money reduces the amount you need to borrow.
- Living expenses: Living off-campus with roommates or at home can cut costs significantly.
- Work-study or part-time jobs: Earning even $5,000 per year can lower your loan total.
Every dollar you earn or save is a dollar you do not have to borrow. Even small amounts add up over four years. For example, working 10 hours per week at $15 per hour earns about $5,400 per year, which could cover books and some living costs.
Federal vs. private loans
Most student loans are federal loans, which come with fixed interest rates and flexible repayment options. Private loans, from banks or credit unions, often have variable rates and fewer protections. Federal loans should always be your first choice because they offer income-driven repayment and loan forgiveness programs.
If you do need a private loan, compare rates carefully. The average federal interest rate for undergraduates is around 5.5% in 2026. Private loans can range from 4% to 14% depending on your credit. A lower rate can save you thousands over the life of the loan.
How to keep your debt below the average
If you want to graduate with less debt than the average, start planning early. Here are actionable tips:
- Complete the Free Application for Federal Student Aid (FAFSA) every year to get grants and federal loans.
- Apply for scholarships—even small ones add up. Use free search tools at your school or state.
- Choose a community college for the first two years and then transfer to a four-year university. This can cut your total cost by thousands.
- Live like a student—cook at home, use public transit, and avoid eating out often.
- Graduate on time. Taking extra semesters adds tuition and delays your income.
These steps are simple but effective. A student who follows even a few of them can easily borrow $10,000 less than the average.
What to do if you already have debt
If you already have student loans, you are not alone. The first step is to know your total balance and interest rates. You can log in to your federal loan servicer’s website to see all your loans in one place.
Next, consider enrolling in an income-driven repayment plan. These plans cap your monthly payment at a percentage of your income. After 20 or 25 years, any remaining balance is forgiven. This can give you breathing room if your payments are too high.
You might also look into loan forgiveness programs for public service workers. If you work for a government or nonprofit organization, you could qualify for Public Service Loan Forgiveness after 120 qualifying payments. Make sure you submit the certification form each year.
Summary
The average student loan debt in the US is about $37,000 for a bachelor’s degree, but your own debt can be much lower with careful planning. Use the average as a benchmark, not a target. Focus on reducing your costs through grants, scholarships, and smart spending. If you already have debt, explore repayment options like income-driven plans. The best time to start making smart choices is now—before you borrow that first loan.
Frequently Asked Questions
What is the average student loan debt in 2026?
The average student loan debt for a bachelor’s degree graduate is about $37,000 in 2026. This includes both federal and private loans.
How much student loan debt is too much?
A common rule is to borrow no more than your expected starting salary. For example, if you expect to earn $40,000 a year, keep your total debt under $40,000.
Does the average student loan debt include graduate school loans?
No, the $37,000 figure is for bachelor’s degree graduates only. Graduate school debt is much higher, averaging around $54,000 for master’s degrees.
Can I graduate with no student loan debt?
Yes, many students graduate debt-free by using grants, scholarships, and part-time work. About 40% of college graduates finish with no loans.
What is the monthly payment on the average student loan debt?
For a $37,000 loan at a 5.5% interest rate over 10 years, the monthly payment is about $400. Income-driven plans can lower that payment to around 10% of your discretionary income.
