Student Loan Debt Statistics 2025

33 Roundup of Student Loan Debt Statistics

Student loans weigh heavily on consumers. These statistics make it clear. Student loan debt is an ongoing concern.

Average Student Loan Debt in the United States

1. At the end of 2024, Americans owed $1.6 trillion in federal student loan debt.
2. 43 million Americans have student loans.
3. Borrowers over the age of 24 owe $14,000 in federal student loan debt. That’s according to the National Consumer Law Center (NCLC).
4. Borrowers over the age of 62 have an average of over $43,000 in federal student loans.

Average Student Loan Debt by State

5. By state, the following chart demonstrates student loan debt:

Average Student Loan Debt by State
State	Debt per Student
Alabama	$37,709
Alaska	$35,821
Arizona	$35,675
Arkansas	$33,858
California	$38,168
Colorado	$37,392
Connecticut	$36,672
Delaware	$38,683
District of Columbia	$54,795
Florida	$39,262
Georgia	$42,026
Hawaii	$38,158
Idaho	$33,281
Illinois	$39,055
Indiana	$33,243
Iowa	$30,925
Kansas	$33,119
Kentucky	$33,470
Louisiana	$34,866
Maine	$34,292
Maryland	$43,692
Massachusetts	$35,529
Michigan	$36,974
Minnesota	$34,071
Mississippi	$37,254
Missouri	$35,675
Montana	$33,945
Nebraska	$32,377
Nevada	$34,589
New Hampshire	$34,884
New Jersey	$37,201
New Mexico	$34,280
New York	$38,690
North Carolina	$38,695
North Dakota	$29,647
Ohio	$35,033
Oklahoma	$32,103
Oregon	$37,829
Pennsylvania	$36,267
Puerto Rico	$31,022
Rhode Island	$33,270
South Carolina	$38,770
South Dakota	$30,928
Tennessee	$36,886
Texas	$33,581
Utah	$33,746
Vermont	$38,404
Virginia	$40,137
Washington	$36,762
West Virginia	$32,358
Wisconsin	$32,628
Wyoming	$31,503

Average Student Loan Debt by Age

Federal Reserve data shows:

6. People under the age of 29, have an average of $23,795
7. People between 30 and 39 years of age: $42,014 in average student loan debt
8. People between 40 and 49 years of age: $44,798 in average student loan debt
9. People between 50 and 59 years of age: $45,126 in average student loan debt

10. Since 2017, federal debt among people over the age of 62 has grown by 33.2%.

Average Student Loan Debt by Race and Gender

According to the Education Data Initiative, the following races have used student loans to acquire a bachelor’s degree.

11. Whites: 59% of students had student loans
12. Black and African Americans: 81% have student loans
13. Hispanic and Latino: 60% have student loans
14. Asian: 39% have student loans
15. American Indian or Alaskan native: 65% have student loans
16. Multiracial: 63% have student loans

According to this report from Education Data Initiative, the following is how loans are spread by gender:

17. Women: 64%
18. Men: 36%

Federal Student Loan Portfolio

This data provides a look at the portfolio of student loan debt through the end of 2024. This figure represents billions. It’s from the Federal Student Aid site.

19. Direct loans: $1470.1 billion in loans for 38.2 million people
20. Federal Family Education Loans: $165.4 billion in loans for 7.3 million people
21. Perkins Loans: $3.1 billion in loans for 1 million people
22. Total: $1,638.6 billion for 42.7 million people

Federal Student Loans by Age

From the Federal Student Loan Portfolio, representing billions of dollars:

23. Under 24: $96.3 in 6.8 million loans
24. 25 to 34: $487.3 in 14.7 million loans
25. 35 to 49: $646.6 in 14.6 million loans
26. 50 to 61$290.10 in 6.2 million loans
27. 62 and older: :$121.5 in 2.8 million loans

Private Student Loan Portfolio

In private student loans, check out these factors:

28. $133.4 billion in private student loans at the start of 2024
29. 90.70% of private student loans are for undergrads
30. 9.3% of private loans are for graduate degrees
31. 19.33% of private student debt was in deferment

Student Loan Repayment Statistics

32. Approximately 50% of borrowers are current on payments
33. Approximately 30% of borrowers were past due

Student Loan Forgiveness

Under the Biden Administration, over 5 million borrowers saw their debt cleared. That was under the Public Service Loan Forgiveness program.

President Joe Biden announced debt forgiveness of 150,000 borrowers in the final days of his time in office. That resulted in clearing the debt for 85,000 people who reported being cheated and defrauded by their school.