The Student Loan Debt Crisis By the Numbers

Student Loan Debt Crisis

Over 43 million people in the US are in student loan debt. Collectively, they owe a staggering total of $1.26 trillion. The average monthly payment on a student loan debt is $351 for borrowers between 20 and 30 years old. 

Infographic by Money Goody.

Student Loan Debt Statistics

The class of 2016 college graduates, on average, still owe $37,172 in student loan debt. Over 11% of student loans fall into delinquency.

Public vs Private Colleges

In 2012:

  • 66% of graduates from public colleges had student loans with an average debt of $25,550.
  • 75% of graduates from private nonprofit colleges had student loans with an average debt of $32,300.
  • 88% of graduates from for-profit colleges had student loans with an average debt of $39,950.

Graduate School Debt

Over 40% of student loan debt paid for graduate and professional degrees. These debts are even larger.

Graduates of:

  • MBA programs typically owe $42,000 in student loan debt.
  • Master of Science programs typically owe $50,400 in student loan debt.
  • Master of Education programs typically owe $50,879 in student loan debt.
  • Master of Arts programs typically owe $58,539 in student loan debt.
  • Law school typically owe $140,616 in student loan debt.
  • Medicine and Health Sciences programs typically owe $161,772 in student loan debt. 
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