The average student loan debt in the US is around $37,000 per borrower. This figure includes both federal and private loans for undergraduate and graduate degrees. However, the exact amount can vary widely based on the type of school, degree level, and state you live in.
Student loan debt is a major concern for many families. In this article, we’ll break down the latest numbers, explain why averages matter, and give you practical tips to keep your own debt manageable.
How the Average Is Calculated
The average student loan debt is calculated by adding up all outstanding student loans and dividing by the number of borrowers. This includes people who owe small amounts and those who owe hundreds of thousands. As a result, the average can be higher than what most people actually owe.
According to the Federal Reserve, total student loan debt in the US exceeds $1.7 trillion. About 43 million borrowers hold these loans. The median debt is often lower than the average, meaning half of borrowers owe less than that amount.
Average Debt by Degree Type
Your degree choice has a big impact on how much you borrow. Here are approximate averages based on recent data:
| Degree Type | Average Debt at Graduation |
|---|---|
| Associate degree | $20,000 |
| Bachelor’s degree | $30,000 – $40,000 |
| Master’s degree | $50,000 – $70,000 |
| Doctoral or professional degree | $100,000 – $200,000 |
These figures are estimates and can change. For example, medical school graduates often owe over $200,000. Law school graduates average around $160,000 in debt.
Why the Average Matters
Knowing the average helps you set realistic expectations. If you see that most people borrow around $37,000, you can plan your own borrowing accordingly. But remember, averages don’t tell the whole story.
For instance, students at public universities usually borrow less than those at private colleges. Also, students who receive grants or scholarships may graduate with no debt at all. So, the average is a starting point, not a target.
State-by-State Differences
Debt levels vary by state due to differences in tuition and cost of living. For example, students in the Northeast often have higher debt than those in the West. Some states, like Utah and California, have lower average debt, while states like New Hampshire and Pennsylvania are higher.
If you’re choosing a school, look at the average debt for that specific college. Many schools publish this data on their websites. It’s a smart way to compare costs.
How to Reduce Your Student Loan Debt
You don’t have to accept the average as your fate. Here are practical steps to lower your borrowing:
- Fill out the Free Application for Federal Student Aid (FAFSA) every year to get grants and work-study.
- Choose a public in-state college if possible, as tuition is usually lower.
- Attend community college for the first two years, then transfer to a four-year school.
- Work part-time during the school year or full-time during summers to pay for expenses as you go.
- Apply for scholarships and grants regularly – even small amounts add up.
Another tip is to borrow only what you need, not the maximum offered. You can always take out more later if necessary. Also, consider federal loans before private loans, because they have better repayment options and protections.
Repayment Options and Forgiveness
After graduation, you’ll need to repay your loans. The standard repayment plan lasts 10 years. However, you can choose income-driven repayment plans that base your monthly payment on your income and family size.
There are also forgiveness programs for certain public service jobs. The Public Service Loan Forgiveness (PSLF) program forgives remaining debt after 120 qualifying payments while working full-time for a government or nonprofit employer. Make sure you meet all requirements and submit the necessary paperwork.
What to Do If You’re Struggling
If you can’t afford your payments, contact your loan servicer immediately. You might qualify for deferment or forbearance, which temporarily pauses payments. But interest may still accrue, so explore all options first.
Consolidating or refinancing can also lower your interest rate, but be careful with private refinancing because you lose federal protections. Always compare terms and read the fine print.
Final Thoughts
The average student loan debt in the US is about $37,000, but your personal number depends on many factors. By understanding the data and taking proactive steps, you can minimize your borrowing and set yourself up for financial success. Use the resources available, ask questions, and never borrow more than you truly need. Your future self will thank you.
Frequently Asked Questions
What is the average student loan debt in the US right now?
As of 2026, the average student loan debt per borrower is around $37,000, but this includes all types of degrees and loan types.
How much student loan debt is too much?
A general rule is to keep your total student loan debt lower than your expected starting salary. For example, if you expect to earn $40,000, try to borrow less than that.
What is the average student loan debt for a bachelor’s degree?
The average debt for a bachelor’s degree is about $30,000 to $40,000, depending on the school and state.
Can I get student loan forgiveness?
Yes, there are programs like Public Service Loan Forgiveness for those who work in public service jobs, and income-driven repayment plans can also lead to forgiveness after 20 or 25 years.
How can I lower my student loan debt?
You can lower your debt by attending a cheaper school, working while studying, applying for scholarships, and borrowing only what you need.
