1. Total student loan debt in the USA was $1.76 trillion in the last quarter of 2022.
In 2018 it was $1.56 trillion, an increase of $200 billion.
2. Every second in the United States, $2,858 in education debt is acquired.
3. There are 43.5 million Americans who carry education debt in 2022.
4. In 2022, the average student debt among Americans was $37,574.
5. The average public in-state college tuition cost is $10,740 for the 2021–22 academic year.
https://balancingeverything.com/student-loan-debt-statistics
6. 30% of American students need to borrow money to pay for their education.
7. In 2021, the median student loan debt in the US among those with any outstanding
debt for their own education was between $20,000 and $24,999.
8. In 2021, over half of Americans with college loan debt had paid off their loans.
9. The average monthly student loan payments stand at $460 for bachelor’s degree holders.
10. As of July 2022, only 27,505 out of 1.13 million PSLF applications
were approved to bring borrowers closer to forgiveness.
https://balancingeverything.com/student-loan-debt-statistics
11. The tuition costs in the public four-year sector have grown by 9% over the last decade.
12. It takes between 10–30 years for American students to repay their education debt.
13. Student loan debt is highest among Americans aged between 35 and 49.
14. The average student loan debt by Generation Z has jumped by 24.3% between 2020 and 2022.
15. About 34% of Americans aged 18 to 29 carry outstanding student loan debt.
https://balancingeverything.com/student-loan-debt-statistics
16. 36% of Americans with student debt believe the financial costs
of their degree are larger than their economic benefits.
17. New Hampshire, Delaware, Pennsylvania, and Rhode Island are the states
with the highest one-year increase in college student debt.
18. Among the states with the most robust data, New Jersey and Pennsylvania
had the largest increase in debt for student loans between 2004 and 2019.
19. Arizona had the smallest 15-year jump in US student loan debt between 2004 and 2019.
20. Washington, DC, has the highest average amount of student loan debt at $61,312.
https://balancingeverything.com/student-loan-debt-statistics
21. Black and African American bachelor’s degree holders have
an average of $52,000 in student loan debt.
22. The monthly student loan payments for 39% of American Indian
and Alaska Native borrowers are at least $247.
23. 43% of American students rely on loans to pay for a college education.
24. Public four-year out-of-state college have an average tuition of 28,240 in academic year 2022-23.
25. The mean monthly student loan payments for those with an Associate’s Degree are $333, while
those who hold a master’s or a doctoral degree pay $695 and $1,210 on average, respectively.
https://balancingeverything.com/student-loan-debt-statistics