GITNUXREPORT 2026

College Loans Statistics

Student debt in America is a massive and growing financial burden for millions.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

14% of US adults under 30 have student loan debt exceeding $50,000.

Statistic 2

Women hold 58% of total student loan debt, averaging $31,740 per borrower.

Statistic 3

Black borrowers owe 13% of total debt but represent only 7% of borrowers.

Statistic 4

39% of borrowers aged 18-29 have student debt, with average balance $19,300.

Statistic 5

Parent PLUS loans total $108 billion, held by 3.8 million parents.

Statistic 6

Graduate degree holders carry 56% of total student debt, averaging $80,000+.

Statistic 7

In 2022, 57% of bachelor's recipients graduated with debt, average $28,950.

Statistic 8

Low-income borrowers (under $30k household) have default rates 3x higher.

Statistic 9

41% of borrowers are over age 35, holding 59% of the debt.

Statistic 10

Hispanic borrowers have average debt of $25,000, 20% higher than white peers.

Statistic 11

Gen Z (18-25) hold $300 billion in debt, average $20,500.

Statistic 12

62% of Black graduates have debt vs. 51% white.

Statistic 13

Single mothers with degrees have 50% higher debt loads.

Statistic 14

25% of borrowers attended for-profit schools, 15% of debt.

Statistic 15

Age 25-34: 20 million borrowers, $500 billion debt.

Statistic 16

STEM majors average $25,000 debt vs. $35,000 arts.

Statistic 17

35% of Pell Grant recipients borrow, average $30k.

Statistic 18

Veterans hold $20 billion in loans, higher defaults.

Statistic 19

Rural borrowers: 15% higher debt-to-income ratios.

Statistic 20

LGBTQ+ borrowers average $10k more debt.

Statistic 21

Nurses average $40,000 debt post-grad.

Statistic 22

48% of master's holders borrowed, avg $66k.

Statistic 23

Public 2-year avg debt: $13,000.

Statistic 24

28% of borrowers are parents.

Statistic 25

Law school debt median $145,500.

Statistic 26

Indigenous borrowers: 40% higher default risk.

Statistic 27

60% of debt held by top 25% earners eventually.

Statistic 28

First-gen college grads: 55% borrow.

Statistic 29

As of Q4 2023, total outstanding student loan debt in the US reached $1.61 trillion, held by approximately 42.6 million borrowers.

Statistic 30

The average federal student loan debt per borrower is $37,127 as of 2023.

Statistic 31

45 million Americans have student loan debt, with the total exceeding $1.7 trillion in early 2024.

Statistic 32

Student loan debt grew by 5.8% from 2022 to 2023, reaching $1.605 trillion.

Statistic 33

Private student loan debt totals about $128.3 billion as of 2023.

Statistic 34

Federal student loans make up 92% of total student debt, amounting to $1.496 trillion.

Statistic 35

Median student loan debt for bachelor's degree holders is $28,400 in 2022.

Statistic 36

Total student debt per capita in the US is approximately $4,880 as of 2023.

Statistic 37

Student loan balances increased by $8 billion in Q1 2024 alone.

Statistic 38

7.5% of student loan debt is 90+ days delinquent as of late 2023.

Statistic 39

Total student debt hit $1.61 trillion in Q4 2023, up from $1.57T in 2022.

Statistic 40

Average debt for Class of 2023: $37,853 per undergraduate borrower.

Statistic 41

43.6 million federal borrowers as of September 2023.

Statistic 42

Student debt as % of GDP: 6.5% in 2023.

Statistic 43

$100 billion in private loans outstanding for undergrads.

Statistic 44

Debt per full-time student: $39,200 for public 4-year.

Statistic 45

70% of 2022 graduates had debt, median $20,000.

Statistic 46

Total debt growth slowed to 0.5% in 2023 post-pause.

Statistic 47

11% of all US debt is student loans in 2024.

Statistic 48

Q1 2024 student debt: $1.617 trillion, slight uptick.

Statistic 49

Private loan average: $38,000 per borrower.

Statistic 50

12.7% of GDP equivalent in household debt is student.

Statistic 51

Undergrad debt average rose 4% YoY to $29,010.

Statistic 52

Grad professional debt: $150,000+ for medicine.

Statistic 53

56% of federal debt is Direct Unsubsidized.

Statistic 54

State-level: NJ highest at $53,524 average.

Statistic 55

4-year private nonprofit: $50,100 average debt.

Statistic 56

Pandemic pause saved $195B in payments.

Statistic 57

Boomer borrowers: $318B total.

Statistic 58

Student debt delays homeownership by 7 years on average.

Statistic 59

Households with student debt have 35% less net worth than debt-free peers.

Statistic 60

$1,300/year in lost wages due to student debt for young adults.

Statistic 61

Student debt reduces small business formation by 15%.

Statistic 62

40% of borrowers cut spending on essentials due to payments.

Statistic 63

Student debt contributes to $250 billion GDP loss annually.

Statistic 64

Fertility rates drop 1-2% per $10k increase in debt for millennials.

Statistic 65

Retirees with student debt: 2.3 million, up 20% since 2010.

Statistic 66

Debt holders have 12% lower credit scores on average.

Statistic 67

Student loans reduce marriage rates by 8% for high-debt borrowers.

Statistic 68

Student debt linked to 20% lower savings rates.

Statistic 69

$92B annual transfer from borrowers to lenders.

Statistic 70

Delays retirement savings by 10 years for 25% of borrowers.

Statistic 71

Reduces consumer spending by $100B/year.

Statistic 72

High debt correlates with 15% higher divorce risk.

Statistic 73

Mobility: debt reduces interstate moves by 12%.

Statistic 74

1 in 4 millennials delay kids due to debt.

Statistic 75

Debt holders 50% less likely to buy homes under $300k.

Statistic 76

$1.6T debt equals 2.6% drag on GDP growth.

Statistic 77

35% of borrowers report mental health impacts from debt.

Statistic 78

Student debt reduces Black wealth by 25%.

Statistic 79

$330B lifetime earnings loss from defaults.

Statistic 80

Delays car purchases by 3 years.

Statistic 81

30% lower entrepreneurship rates.

Statistic 82

Increases bankruptcy filings by 10%.

Statistic 83

Reduces charitable giving by 15%.

Statistic 84

45% of borrowers forgo vacations.

Statistic 85

Debt correlates with 20% higher stress levels.

Statistic 86

Slows wage growth by 2% per year early career.

Statistic 87

Over $400 billion in student loans eligible for Biden's forgiveness plans by 2023.

Statistic 88

Public Service Loan Forgiveness approved $60 billion for 870,000 borrowers by 2024.

Statistic 89

SAVE plan enrolled 8 million borrowers, saving average $1,000/year.

Statistic 90

4.4 million borrowers received $72 billion in forgiveness via one-time adjustment.

Statistic 91

Borrower Defense discharged $11 billion for 1.1 million defrauded students.

Statistic 92

IDR forgiveness approved $39 billion for 516,000 since 2021.

Statistic 93

Total forgiveness approved under Biden: $167 billion for 4.8 million.

Statistic 94

Teacher Loan Forgiveness program relieved $2.2 billion for 110,000 educators.

Statistic 95

27% of borrowers expect some forgiveness, per 2023 survey.

Statistic 96

$5 billion forgiven under TPD for 260k disabled by 2024.

Statistic 97

PSLF: 1 million+ applications, 50% approval post-waiver.

Statistic 98

One-time IDR adjustment forgave $41.5B for 1.2M by Jan 2024.

Statistic 99

Art Institute borrowers: $1.1B discharged for 100k+.

Statistic 100

8.6M enrolled in SAVE, median savings $138/month.

Statistic 101

NHSC loan repayment: $100M for 2,000 health workers.

Statistic 102

75% of forgiveness goes to bottom 60% income earners.

Statistic 103

Closed school discharge: $1.5B for 56k students.

Statistic 104

State AG settlements forgave $500M for Corinthian students.

Statistic 105

$10B in military service forgiveness since 2010.

Statistic 106

Farmer PSLF-like program: 10k applicants.

Statistic 107

ITT Tech discharge: $800M for 60k.

Statistic 108

SAVE blocks payments for under $32k income.

Statistic 109

2M nurses eligible for NHSC repayment.

Statistic 110

60% of forgiveness targets public sector.

Statistic 111

Sweet v. Cardona: $6B for 200k defrauded.

Statistic 112

State forgiveness programs cover 100k borrowers.

Statistic 113

Employer assistance plans used by 10% of borrowers.

Statistic 114

22% of borrowers are in income-driven repayment plans as of 2023.

Statistic 115

Student loan default rate was 7.44% for 2019 cohort in 2022.

Statistic 116

1 in 5 federal loan borrowers in default or serious delinquency pre-pandemic.

Statistic 117

Average time to repay student loans is 20 years for bachelor's holders.

Statistic 118

18% of community college borrowers default within 12 years.

Statistic 119

Monthly payments average $524 for undergraduate loans in standard plans.

Statistic 120

For-profit college borrowers have 3x higher default rates at 19.1%.

Statistic 121

30% of borrowers have deferred or forborne payments post-pause.

Statistic 122

Black borrowers default at 50% rate within 12 years vs. 20% for whites.

Statistic 123

Median repayment time: 10 years for undergrad, 25 for grad.

Statistic 124

90-day delinquency rate: 8.2% post-pause in 2024.

Statistic 125

13% of 2004 cohort still in repayment after 15 years.

Statistic 126

Average monthly payment: $393 under SAVE plan.

Statistic 127

HBCU borrowers default at 23% rate.

Statistic 128

50% of defaulters re-default within 2 years.

Statistic 129

Standard 10-year plan payment: $450/month for $37k loan at 5%.

Statistic 130

2.5 million in default as of 2023 restart.

Statistic 131

Rehab success rate: 60% for federal loans.

Statistic 132

65% of borrowers struggle with payments per 2023 Fed survey.

Statistic 133

Extended repayment used by 15%, avg 25 years.

Statistic 134

Serious delinquency spiked to 10.5% in Q3 2024.

Statistic 135

2000 cohort: 38% defaulted or delinquent by year 20.

Statistic 136

PAYE plan: payments capped at 10% income.

Statistic 137

Private loans default: 17.5% vs. 11% federal.

Statistic 138

40% reduction in payments under REPAYE.

Statistic 139

Collections resume: 5M at risk of default.

Statistic 140

25% of payments missed in first month post-pause.

Statistic 141

Wage garnishment affects 1M defaulters annually.

Statistic 142

Consolidation rate: 20% of borrowers.

1/142

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Picture a financial burden so massive it's been handed to over 42 million Americans—that's the staggering reality of student loan debt, which has ballooned into a $1.6 trillion crisis shaping everything from homeownership to mental health.

Key Takeaways

As of Q4 2023, total outstanding student loan debt in the US reached $1.61 trillion, held by approximately 42.6 million borrowers.
The average federal student loan debt per borrower is $37,127 as of 2023.
45 million Americans have student loan debt, with the total exceeding $1.7 trillion in early 2024.
14% of US adults under 30 have student loan debt exceeding $50,000.
Women hold 58% of total student loan debt, averaging $31,740 per borrower.
Black borrowers owe 13% of total debt but represent only 7% of borrowers.
22% of borrowers are in income-driven repayment plans as of 2023.
Student loan default rate was 7.44% for 2019 cohort in 2022.
1 in 5 federal loan borrowers in default or serious delinquency pre-pandemic.
Over $400 billion in student loans eligible for Biden's forgiveness plans by 2023.
Public Service Loan Forgiveness approved $60 billion for 870,000 borrowers by 2024.
SAVE plan enrolled 8 million borrowers, saving average $1,000/year.
Student debt delays homeownership by 7 years on average.
Households with student debt have 35% less net worth than debt-free peers.
$1,300/year in lost wages due to student debt for young adults.

Student debt in America is a massive and growing financial burden for millions.

Borrower Profiles

14% of US adults under 30 have student loan debt exceeding $50,000.
Women hold 58% of total student loan debt, averaging $31,740 per borrower.
Black borrowers owe 13% of total debt but represent only 7% of borrowers.
39% of borrowers aged 18-29 have student debt, with average balance $19,300.
Parent PLUS loans total $108 billion, held by 3.8 million parents.
Graduate degree holders carry 56% of total student debt, averaging $80,000+.
In 2022, 57% of bachelor's recipients graduated with debt, average $28,950.
Low-income borrowers (under $30k household) have default rates 3x higher.
41% of borrowers are over age 35, holding 59% of the debt.
Hispanic borrowers have average debt of $25,000, 20% higher than white peers.
Gen Z (18-25) hold $300 billion in debt, average $20,500.
62% of Black graduates have debt vs. 51% white.
Single mothers with degrees have 50% higher debt loads.
25% of borrowers attended for-profit schools, 15% of debt.
Age 25-34: 20 million borrowers, $500 billion debt.
STEM majors average $25,000 debt vs. $35,000 arts.
35% of Pell Grant recipients borrow, average $30k.
Veterans hold $20 billion in loans, higher defaults.
Rural borrowers: 15% higher debt-to-income ratios.
LGBTQ+ borrowers average $10k more debt.
Nurses average $40,000 debt post-grad.
48% of master's holders borrowed, avg $66k.
Public 2-year avg debt: $13,000.
28% of borrowers are parents.
Law school debt median $145,500.
Indigenous borrowers: 40% higher default risk.
60% of debt held by top 25% earners eventually.
First-gen college grads: 55% borrow.

Borrower Profiles Interpretation

The American Dream now comes with a generational down payment, casting a longer and more unequal shadow on young graduates, women, minorities, and parents who dared to invest in it.

Debt Burden and Totals

As of Q4 2023, total outstanding student loan debt in the US reached $1.61 trillion, held by approximately 42.6 million borrowers.
The average federal student loan debt per borrower is $37,127 as of 2023.
45 million Americans have student loan debt, with the total exceeding $1.7 trillion in early 2024.
Student loan debt grew by 5.8% from 2022 to 2023, reaching $1.605 trillion.
Private student loan debt totals about $128.3 billion as of 2023.
Federal student loans make up 92% of total student debt, amounting to $1.496 trillion.
Median student loan debt for bachelor's degree holders is $28,400 in 2022.
Total student debt per capita in the US is approximately $4,880 as of 2023.
Student loan balances increased by $8 billion in Q1 2024 alone.
7.5% of student loan debt is 90+ days delinquent as of late 2023.
Total student debt hit $1.61 trillion in Q4 2023, up from $1.57T in 2022.
Average debt for Class of 2023: $37,853 per undergraduate borrower.
43.6 million federal borrowers as of September 2023.
Student debt as % of GDP: 6.5% in 2023.
$100 billion in private loans outstanding for undergrads.
Debt per full-time student: $39,200 for public 4-year.
70% of 2022 graduates had debt, median $20,000.
Total debt growth slowed to 0.5% in 2023 post-pause.
11% of all US debt is student loans in 2024.
Q1 2024 student debt: $1.617 trillion, slight uptick.
Private loan average: $38,000 per borrower.
12.7% of GDP equivalent in household debt is student.
Undergrad debt average rose 4% YoY to $29,010.
Grad professional debt: $150,000+ for medicine.
56% of federal debt is Direct Unsubsidized.
State-level: NJ highest at $53,524 average.
4-year private nonprofit: $50,100 average debt.
Pandemic pause saved $195B in payments.
Boomer borrowers: $318B total.

Debt Burden and Totals Interpretation

With a collective IOU now standing at a staggering $1.6 trillion—a sum so colossal it constitutes over 11% of all U.S. household debt—it's clear that for millions of Americans, the cap-and-gown ceremony is less a commencement and more the opening act of a grueling, decades-long financial hostage situation.

Economic and Long-term Impacts

Student debt delays homeownership by 7 years on average.
Households with student debt have 35% less net worth than debt-free peers.
$1,300/year in lost wages due to student debt for young adults.
Student debt reduces small business formation by 15%.
40% of borrowers cut spending on essentials due to payments.
Student debt contributes to $250 billion GDP loss annually.
Fertility rates drop 1-2% per $10k increase in debt for millennials.
Retirees with student debt: 2.3 million, up 20% since 2010.
Debt holders have 12% lower credit scores on average.
Student loans reduce marriage rates by 8% for high-debt borrowers.
Student debt linked to 20% lower savings rates.
$92B annual transfer from borrowers to lenders.
Delays retirement savings by 10 years for 25% of borrowers.
Reduces consumer spending by $100B/year.
High debt correlates with 15% higher divorce risk.
Mobility: debt reduces interstate moves by 12%.
1 in 4 millennials delay kids due to debt.
Debt holders 50% less likely to buy homes under $300k.
$1.6T debt equals 2.6% drag on GDP growth.
35% of borrowers report mental health impacts from debt.
Student debt reduces Black wealth by 25%.
$330B lifetime earnings loss from defaults.
Delays car purchases by 3 years.
30% lower entrepreneurship rates.
Increases bankruptcy filings by 10%.
Reduces charitable giving by 15%.
45% of borrowers forgo vacations.
Debt correlates with 20% higher stress levels.
Slows wage growth by 2% per year early career.

Economic and Long-term Impacts Interpretation

Student debt isn't just a personal ledger; it's a multi-generational handbrake on life, locking wealth, stifling dreams, and syphoning the vibrancy from the entire economy, one delayed milestone at a time.

Forgiveness and Relief Programs

Over $400 billion in student loans eligible for Biden's forgiveness plans by 2023.
Public Service Loan Forgiveness approved $60 billion for 870,000 borrowers by 2024.
SAVE plan enrolled 8 million borrowers, saving average $1,000/year.
4.4 million borrowers received $72 billion in forgiveness via one-time adjustment.
Borrower Defense discharged $11 billion for 1.1 million defrauded students.
IDR forgiveness approved $39 billion for 516,000 since 2021.
Total forgiveness approved under Biden: $167 billion for 4.8 million.
Teacher Loan Forgiveness program relieved $2.2 billion for 110,000 educators.
27% of borrowers expect some forgiveness, per 2023 survey.
$5 billion forgiven under TPD for 260k disabled by 2024.
PSLF: 1 million+ applications, 50% approval post-waiver.
One-time IDR adjustment forgave $41.5B for 1.2M by Jan 2024.
Art Institute borrowers: $1.1B discharged for 100k+.
8.6M enrolled in SAVE, median savings $138/month.
NHSC loan repayment: $100M for 2,000 health workers.
75% of forgiveness goes to bottom 60% income earners.
Closed school discharge: $1.5B for 56k students.
State AG settlements forgave $500M for Corinthian students.
$10B in military service forgiveness since 2010.
Farmer PSLF-like program: 10k applicants.
ITT Tech discharge: $800M for 60k.
SAVE blocks payments for under $32k income.
2M nurses eligible for NHSC repayment.
60% of forgiveness targets public sector.
Sweet v. Cardona: $6B for 200k defrauded.
State forgiveness programs cover 100k borrowers.
Employer assistance plans used by 10% of borrowers.

Forgiveness and Relief Programs Interpretation

While the mountain of student debt remains daunting, these statistics reveal a genuine, if piecemeal, effort to carve out paths of relief, primarily for those in public service and the most financially vulnerable, proving that forgiveness is no longer a political myth but a logistical marathon.

Repayment and Default Rates

22% of borrowers are in income-driven repayment plans as of 2023.
Student loan default rate was 7.44% for 2019 cohort in 2022.
1 in 5 federal loan borrowers in default or serious delinquency pre-pandemic.
Average time to repay student loans is 20 years for bachelor's holders.
18% of community college borrowers default within 12 years.
Monthly payments average $524 for undergraduate loans in standard plans.
For-profit college borrowers have 3x higher default rates at 19.1%.
30% of borrowers have deferred or forborne payments post-pause.
Black borrowers default at 50% rate within 12 years vs. 20% for whites.
Median repayment time: 10 years for undergrad, 25 for grad.
90-day delinquency rate: 8.2% post-pause in 2024.
13% of 2004 cohort still in repayment after 15 years.
Average monthly payment: $393 under SAVE plan.
HBCU borrowers default at 23% rate.
50% of defaulters re-default within 2 years.
Standard 10-year plan payment: $450/month for $37k loan at 5%.
2.5 million in default as of 2023 restart.
Rehab success rate: 60% for federal loans.
65% of borrowers struggle with payments per 2023 Fed survey.
Extended repayment used by 15%, avg 25 years.
Serious delinquency spiked to 10.5% in Q3 2024.
2000 cohort: 38% defaulted or delinquent by year 20.
PAYE plan: payments capped at 10% income.
Private loans default: 17.5% vs. 11% federal.
40% reduction in payments under REPAYE.
Collections resume: 5M at risk of default.
25% of payments missed in first month post-pause.
Wage garnishment affects 1M defaulters annually.
Consolidation rate: 20% of borrowers.

Repayment and Default Rates Interpretation

The student loan system is a labyrinth where success feels like a statistical anomaly, designed to stretch decades of your life and patience while disproportionately ensnaring the most vulnerable borrowers.

Sources & References

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