About 42.3 million Americans owe federal student loans, and the typical balance rises with age well into the 50s. The table below uses Federal Student Aid’s own records of the federal loan portfolio.
Average Student Loan Balance by Age
| Borrower Age | Average Federal Balance | Borrowers | Total Balance |
|---|---|---|---|
| 24 and Younger | $13,806 | 6.2 million | $85.6B |
| 25 to 34 | $33,271 | 14.0 million | $465.8B |
| 35 to 49 | $45,673 | 15.0 million | $685.1B |
| 50 to 61 | $48,875 | 6.4 million | $312.8B |
| 62 and Older | $44,906 | 3.2 million | $143.7B |
Source: Federal Student Aid, Federal Student Loan Portfolio by Borrower Age, data as of March 31, 2026. Average = outstanding federal balance ÷ borrowers.
Balances are lowest for young borrowers who are still in school or recently graduated, and highest for borrowers aged 50 to 61. Three things push balances up with age:
- Graduate and professional degrees, which are often earned later and cost more
- Long repayment, especially on income-driven plans or in forbearance, where interest can keep balances high for years
- Parent PLUS loans, which parents in their 40s and 50s take out for their children
Borrowers 62 and older owe 143.7 billion. If those loans default, the government can take part of their Social Security benefits; see what happens if you don’t pay student loans.
National Picture
| Metric | Value |
|---|---|
| Outstanding federal student loans | $1,724.5 billion |
| Federal borrowers | 42.3 million |
| Average federal balance | $40,768 |
| Data as of | June 30, 2026 |
For balances by degree and school type, see average student loan debt; for balances by state, see average student loan debt by state.
What the Average Balance Costs to Repay
At the 2026–27 undergraduate rate of 6.52%. Actual rates depend on when your loans were made.
| Balance (about the average for) | 10-Year Payment | Total Interest (10 yr) | New Standard Plan (loans from July 2026) |
|---|---|---|---|
| $14,000 (under 25) | $159 | $5,093 | $159 over 10 years |
| $33,000 (25–34) | $375 | $12,005 | $288 over 15 years |
| $46,000 (35–49) | $523 | $16,735 | $401 over 15 years |
| $49,000 (50–61) | $557 | $17,826 | $427 over 15 years |
Income-driven plans set the payment from your income instead: the Repayment Assistance Plan (RAP) charges 1%–10% of income, and IBR remains for loans made before July 2026. See income-driven repayment plans.
Managing Student Loan Debt
| Strategy | Best For |
|---|---|
| Public Service Loan Forgiveness (PSLF) | Government/nonprofit employees (10 years) |
| Income-driven repayment (IDR) | Those with high debt relative to income |
| Refinancing to lower rate | Borrowers with good credit, stable income |
| Extra payments toward principal | Those with small-to-moderate balances |
| Employer repayment assistance | Employees with this benefit (up to $5,250/yr tax-free) |
Related: Average Debt by Age | Average Credit Card Debt by Age | Financial Milestones by Age
Related guides
Part of the student loan guide.
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