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What is the average student loan debt?

The average student loan debt for a bachelors degree is $36,510 and the average student loan debt for a masters degree is $71,318

This tables below show the average loan amounts in 2020 by loan type, degree and educational institution, based on data from Educationdata.org - Average Student Loan Debt.

Average Federal Student Loan Debt

Federal Loan Program Degree Level Average Loan Amount
Direct Subsidized Loan Undergraduate $9,652
Direct Unsubsidized Loan Undergraduate $18,486
Parent PLUS Loan Undergraduate $28,000
Direct Unsubsidized Loan
Graduate $16,840
Grad PLUS Loan Graduate $55,200

 

Average Student Loan Debt by Degree Type

Degree Type Average Loan Amount
Bachelors $36,510
Masters $71,318
Law  Greater than $100,000
Medical
Greater than $200,000

 

Average Student Loan Debt by Educational Institution Type

Institution Type Average Loan Amount
Public $26,382
Private Non-Profit $37,971
Private For-Profit $21,244

 

Other Student Loan Statistics:

  • 95% of all student loan borrowers have federal student loan debt
  • Borrowers still owe on average $20,000, 20-years after first starting school
  • The average federal student loan debt is $36,510
  • The average private student loan debt is $54,921
  • The median monthly payment for student loans is $250