How Student Loan Debt Adds Up

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    Student Loan Borrowing Statistics

    Student loans and credit card debt add to the pressure of a weak economy. Once the lesser of these two debt categories, student debt now accounts for the majority of family debt outside of home mortgages.
    • Total student loan debt now exceeds credit card debt for the first time.
    • Number of College Students in the U.S.: 32.1 Million
    • Amount of Financial Aid Awarded: $150 Billion
    • Total number of student loan borrowers: 37 million
    • Average amount of student debt, after graduation: $26,600, 20% from non-federal student loans
    • Number of households with college debt: 22.4 million (19%)
    • Time spent paying back student loans, on average: 10 years
    • How much credit card debt carried by students: $2,038, Freshman; $4,138, Seniors
    • Borrowers in their 40s have the highest delinquency rate (12%), while those in their 30s have the lowest delinquency rate (6%).
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