While only a quarter of all student loan borrowers attended graduate school, graduate school borrowers account for half of all outstanding student loan debt.

Just 7% of student loan borrowers account for 40% of outstanding student loan debt

Most student loan debt went to support graduate studies. Total student loan debt in the US is more than $1.6T. Downloadable tables show the raw data behind federal student aid.

Total student debt has ballooned to $1.7T, up almost 150% since the Great Recession

While the burden falls across roughly 43 million Americans, the debt load itself is not uniform—millennials and those pursuing graduate or professional degrees represent an outsized portion of loans.

Student loan debt isn’t evenly distributed across age groups

Millennials and Gen X borrowers account for more than 70% of outstanding federal student debt ($1.1T). The discrepancy is driven by several factors, including a drop in college enrollment by younger Americans and older cohorts having more years to pay off balances.

How student loans became incredibly prevalent

As of 2024, the total outstanding federal student loan debt sat at $1.6T, held by almost 43 million borrowers. Explore the history of student loans and how they became prevalent in the US, as told by several influential actors in the creation of the program over the years.

A study followed a cohort of Black graduates beginning in the 1995–96 school year

While access to higher education led to improved outcomes across minority groups in the US, a significant gap exists in the average amount of debt held and the time it takes to pay back loans. This study found median Black borrowers still owed 95% of the principal two decades later.

College majors ranked by median resulting student debt

As of 2023, student loans were the third-largest category of US household debt at $1.6T. But not all student debt is created equal. Statistically, some majors incur more debt than others. Behavioral science majors, for instance, had the highest median student debt as of 2022.

Around two in five students in any given academic year take out some form of student loans

Among the nearly two in five students who take out loans, 90% of those students rely on federal loan programs. These federal loans come in three flavors—subsidized, unsubsidized, and options for parents and graduate students. Each option has its own financial considerations; see an overview of each, along with what to consider when borrowing funds to cover higher education costs.

Student loan debt differs from state to state

Washington, DC, has the highest average federal student loan debt in the country at $54,795 per borrower. North Dakota has the country's lowest average at $29,647 per borrower.

Student debt has a widespread economic impact

Student debt is no different than the big rent or car payment that comes out of someone’s paycheck every month: Its presence affects that household’s purchasing power. Multiply that household by the 43 million Americans who had outstanding federal loan debt in September 2023, and student debt’s impact becomes considerable.

More than 3 million student loan borrowers were in default at the end of 2021

More than 3 million student loan borrowers were in default at the end of 2021. While default rates have declined since pandemic-era payment pauses, failing to pay off student debt can still have serious consequences, from a low credit score to the government withholding wages.

Roughly 43 million Americans hold a cumulative $1.6T in federal student debt

About 43 million Americans hold a cumulative $1.6T in federal student debt. That's more than the country's combined credit card balance, according to data from in the first quarter of the year 2024.

See the growth of US consumer debt

Americans reached an all-time high debt burden in 2024. Data compiled from The Kaplan Group shows the evolution of auto loans, mortgages, credit card debt, and student loans from 2003 to 2023, and finds that after a brief decline after 2008, the total debt burden grew rapidly.

Gen X has the most student debt per borrower

Gen X is the generation that came of age in the 1980s and 1990s. A podcast episode explains how this came to be.

Roughly 37% of first-time US home buyers have student debt

When those people have extra money, they might wonder: Is it better to pay down my mortgage or my student loans first? This article argues that the answer depends on each loan's interest rate, among other factors.

The average US household carries $105,056 in total debt

This article breaks down the average household debt by category, including credit card debt ($6,523), personal loans ($11,274), and more.

The average cost of college has doubled in the 21st century

Even for students attending in-state, public universities, the cost of attending college has risen dramatically, exceeding $27K with fees and living expenses per year.

Student loan forgiveness is a contentious topic

President Joe Biden's plan to forgive up to $20K of student debt per borrower was ultimately struck down by the Supreme Court. But at the center of the debate about his proposal sat one core question that persists today: Is student loan forgiveness fair?

See how the cost of college tuition has changed overtime

Since the middle of the 20th century, higher education has been viewed as a stepping stone to well-paying professional careers for millions of Americans. But, it can be costly. As of 2024, annual tuition currently ranges from around $10K for an in-state, four-year public university to almost $40K for private institutions.

Student debt is a trillion-dollar question

Former Purdue University president Mitch Daniels and others discuss the student debt crisis. This episode digs into how we got here, whether college is worth borrowing for, how to address the economic drag of student debt, and whether alternative routes to a four-year degree could be part of the solution.

College tuition has climbed 600% in 40 years

The cost of attending college has outpaced inflation in the US. Tuition has climbed more than 600% in the past 40 years; more than three times the inflation rate. Many students have racked up student loans to cover rising college costs, while others have chosen not to attend college altogether.

College sticker prices can be misleading, as most students don't actually pay the advertised price due to financial aid.

College sticker prices can be misleading, as most students don't actually pay the advertised price due to financial aid.

Credit cards were the fourth-highest source of US consumer debt as of 2024

US consumer debt nationwide totaled $17.9T as of 2024 Q3. Mortgage debt ranked as number one, with student loan debt coming in at number two.

Calculate your student loan payments

As of summer 2024, interest rates on federal student loans ranged from 6.5% for undergraduates to above 9% for loans taken out by parents (private loans can exceed 17%). The interest rate determines how quickly the amount owed grows. Use this calculator to estimate your monthly payments.

The most expensive private schools in the US

Private schools can offer students specialized education and one-of-a-kind opportunities, but those often come with a price, with some schools charging close to six figures. Check out this list of the four most expensive American private schools, which charge more than most four-year colleges.

Find out ways to get lower rates on private loans, such as applying with a cosigner

More borrowers are being pushed to opt for private student loans as changes to federal borrowing caps and repayment plans are implemented. Private lenders typically advertise interest rates that fall anywhere between sub-3% and 15% or higher.

The average cost for an in-state, public university is close to $30K per year

To cover the cost, students turn to a variety of sources. Parental contributions plus savings funds cover about half of the expenses on average, with students relying on other sources—typically federal aid, in the form of scholarships and loans—to cover the rest.

Is college worth it?

Higher education has long been viewed as a stepping stone to more stable and higher-paying careers. Estimates suggest a college degree nearly triples average lifetime earnings. But the perception of value is different—only 22% of Americans say college is worth taking out loans for.

US public K-12 spending topped $857B in 2024

Public K-12 schools spent around $857B in 2024, averaging $17,277 per student. State and local sources shouldered nearly 90% of costs, and federal funds provided about $2,400 per pupil.

Track how college tuition has changed over the years across different types of institutions

The dramatic rise in the cost of higher education has a number of causes, ranging from increased number of students to administrative expansion at institutions. Even when accounting for inflation, the cost to pursue a degree has tripled over the past six decades. See data from the National Center for Education Statistics breaking out costs by institution type and year.

Difficulty of getting into every Ivy League school

Harvard graduates have the highest average starting salary in the country at $91,700. But getting to graduation at any Ivy League school like Harvard is no easy feat. This visual breaks down exactly how difficult getting into an Ivy League school is, from Yale to Cornell, including average admission rates, median SAT scores, and more. See the graphic here.

A 'debt trap' refers to the need for loans or credit to cover the expenses incurred from other debt

Debt traps can be caused by unforeseen expenses or inadequate savings and can be a brutal cycle to break. At the end of 2025, total household debt in the US reached $18.8T, according to data from the Federal Reserve of New York.

In 2024, 74% of homebuyers took out a mortgage

Debt owed on mortgages made up about 70% of US consumer debt as of 2025. Mortgage collateral ensures the lender isn’t at a complete loss if the borrower defaults. Under most mortgage contracts, the property is considered collateral under the loan. This means that if a borrower doesn’t repay the loan, then the lender can seize their property.

Learn about the Graduate Research Fellowship Program, the NSF's longest-running program

Since 1952, the program has supported over 70,000 full-time graduate students pursuing master's and doctoral degrees in STEM fields and education, helping nurture a pipeline of professionals to advance scientific progress in the US. More than 40 former fellows have received Nobel Prizes. (Some readers may experience a paywall.)

The cost of college has more than tripled over the past five decades

Determining the all-in cost for each student’s specific circumstances can be tricky. But what is behind the rise in price? Analysts point to a number of factors—lack of transparency around cost, expansive government support, increased administrative burdens at schools, and more.

The average salary for Harvard MBA grads within 3 months of graduating is $193,837.

Switzerland's household debt totals 125% of its GDP

Switzerland, Australia, and Canada are among the countries with the highest household debt in the world. This debt typically includes mortgages, automotive loans, credit card debt, and personal loans.

Understanding why graduate fellowships from the NSF have exacerbated funding inequities

In 2017, 86% of Graduate Research Fellowship Program awardees came from institutions with high research activity, while just 0.3% were from HBCUs. Although the National Science Foundation mandates that all grant proposal reviewers undergo bias training, anecdotal data suggests that well-resourced schools take significant steps to prepare applicants, and they submit proposals at a higher-than-average rate. (Some readers may experience a paywall.)