What is the average amount of a student loan?
This table shows the average federal education loan amount in 2014-2015, based on data from the Federal Student Aid Data Center.
| Loan Program | Degree Level | Average Loan Amount |
|---|---|---|
| Direct Subsidized Loan | Undergraduate | $3,565 |
| Direct Unsubsidized Loan | Undergraduate | $3,944 |
| Parent PLUS Loan | Undergraduate | $14,658 |
| Direct Unsubsidized Loan |
Graduate | $16,840 |
| Grad PLUS Loan | Graduate | $21,381 |
Based on data from the 2011-2012 National Postsecondary Student Aid Study (NPSAS), slightly less than half (48.3%) of dependent undergraduate students who borrow are borrowing to the limit (45.1% of students in Bachelor’s degree programs, 21.1% of students in Associate’s degree programs and 31.1% of students in Certificate programs).
More than one-third (38.5%) of dependent Direct Loan borrowers reach the usual maximum total. An additional 9.8% reach the exceptional maximum, where a dependent student borrower qualifies for the higher loan limits available to independent students due to a parent being denied the Parent PLUS Loan. Only about a quarter (26.2%) of independent undergraduate students are borrowing to the limit.
Among graduate students, 33.5% of students in Master’s degree programs are borrowing to the limit, 30.6% of students in Ph.D. programs are borrowing to the limit, 78.8% of students in law (L.L.B. or J.D.) programs, 83.7% of students in medical school (M.D.) programs, 83.6% of students in pharmacy programs (PharmD) and 80.7% of students in veterinary (DVM) programs are borrowing to the limit from the Direct Unsubsidized Loans program.
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