The average student loan debt after college is about $37,000 for a bachelor’s degree, according to recent federal data. This figure includes both federal and private loans, but the exact amount varies widely depending on the type of school, the state you live in, and the degree you earn. Understanding this average can help you plan your finances and make informed decisions about borrowing and repayment.
How Is Average Student Loan Debt Calculated?
Average student loan debt is typically measured for graduates who borrowed money to attend college. It does not include students who graduated without debt. The most common source of data is the federal government’s College Scorecard, which tracks borrowing for federal loans only. Private loans are not included in that data, but some surveys include them for a more complete picture.
The average debt for all borrowers, including those with associate degrees, certificates, and graduate degrees, is higher than $37,000. For example, graduate students often borrow much more, with average debt exceeding $70,000 for master’s degrees. However, when people ask about “average student loan debt after college,” they usually mean undergraduate borrowers.
Average Debt by Degree Type
Your field of study and degree level significantly impact your debt. Here are the average federal loan debt figures for recent graduates:
| Degree Type | Average Federal Debt |
|---|---|
| Associate Degree | $17,000 |
| Bachelor’s Degree | $37,000 |
| Master’s Degree | $71,000 |
| Doctoral Degree | $130,000 |
| Professional Degree (MD, JD, etc.) | $200,000+ |
These numbers are based on federal data from the College Scorecard and the National Center for Education Statistics. Keep in mind that private loans can add thousands more to your total. Also, these are averages; many students borrow less, and some borrow much more.
Average Debt by State and School Type
Where you go to school matters. Public universities generally have lower tuition than private nonprofits, which means lower average debt. For example, graduates of public four-year colleges have average federal debt of about $27,000, while private nonprofit graduates average around $38,000. For-profit college graduates often have the highest debt, averaging over $45,000.
State-by-state differences are also significant. States with high tuition and low financial aid, like New Hampshire and Pennsylvania, see average debts above $40,000. States with strong public university systems and generous aid, such as California and Florida, often have averages below $25,000. You can look up your state’s average on the College Scorecard website.
Why the Average Is Rising
College tuition has increased faster than inflation for decades, but the rate has slowed in recent years. Still, more students are borrowing to cover costs. The average debt for bachelor’s degree recipients has risen from about $25,000 in 2010 to $37,000 in 2026. That is a 48% increase in 16 years.
Other factors include the rising cost of living, which affects students’ need for loans to cover housing and food. Also, more students are attending graduate school, which adds to their total educational debt. However, the average debt per borrower has actually stabilized in the last few years due to increased grant aid and state funding.
How to Reduce Your Student Loan Debt
You can take steps to lower your debt before and during college. Here are practical strategies:
- Complete the Free Application for Federal Student Aid (FAFSA) early to maximize grants and scholarships.
- Choose a school with a strong financial aid package and lower net price.
- Attend a community college for the first two years, then transfer to a four-year university.
- Work part-time during the school year and full-time during summers to reduce borrowing.
- Live with roommates or at home to save on housing costs.
- Consider income-driven repayment plans after graduation to keep monthly payments affordable.
What to Do If You Already Have High Debt
If you have already graduated and your debt is above average, you have options. Federal loans offer income-driven repayment plans that cap payments at a percentage of your discretionary income. You can also apply for loan forgiveness programs, such as Public Service Loan Forgiveness, if you work in a qualifying public service job.
Refinancing private loans might lower your interest rate, but be cautious: refinancing federal loans into a private loan means losing federal protections like deferment and loan forgiveness. Always weigh the trade-offs. You can also make extra payments toward the principal to reduce the total interest you pay over time.
Final Thoughts
The average student loan debt after college is a useful benchmark, but your personal situation may differ. Focus on borrowing only what you need, researching aid options, and choosing a degree with good earning potential. By planning ahead and using repayment tools, you can manage your debt and achieve financial stability after graduation.
Frequently Asked Questions
What is the average student loan debt for a bachelor’s degree?
The average federal student loan debt for a bachelor’s degree is about $37,000. This figure does not include private loans, so the actual total may be higher.
How much student loan debt is considered normal?
A normal amount is around $30,000 to $40,000 for a four-year degree. However, this varies widely by school type and state.
What is the average student loan debt for a master’s degree?
The average federal debt for a master’s degree is about $71,000. This is higher because graduate programs often have higher tuition and fewer grants.
Can I reduce my student loan debt after graduation?
Yes, you can reduce your debt by making extra payments, applying for income-driven repayment, or seeking loan forgiveness programs. Refinancing private loans may also help.
How does the average student loan debt compare to the national average?
The national average student loan debt per borrower is about $37,000, which is similar to the average for bachelor’s degree graduates. However, this includes all borrowers, including those with graduate degrees.
