There are two different “average student loan debt” numbers, and they answer different questions. Everyone who still owes federal student loans owes about $40,768 on average (Federal Student Aid, June 30, 2026). New bachelor’s graduates who borrowed left school owing about $29,560 (College Board, class of 2023–24). The first figure is higher because it includes graduate borrowers and balances that have grown during years of repayment.
National Student Loan Debt (2026)
| Metric | Amount |
|---|---|
| Outstanding federal student loans | $1,724.5 billion |
| Federal borrowers | 42.3 million |
| Average federal balance per borrower | $40,768 |
| Data as of | June 30, 2026 |
Source: Federal Student Aid Portfolio Summary.
Debt at Graduation: Bachelor’s Degrees
| Class of 2023–24 (public and private nonprofit four-year colleges) | Share Who Borrowed | Average Debt Among Borrowers |
|---|---|---|
| All loans, federal and private combined | 47% | $29,560 |
| Federal loans, public four-year | 45% | $19,880 |
| Federal loans, private nonprofit four-year | 47% | $21,770 |
| Private loans, public four-year | 9% | $37,990 |
| Private loans, private nonprofit four-year | 12% | $49,970 |
Source: College Board, Trends in College Pricing and Student Aid 2025 (students who started and finished at the same institution). The 2018–19 class averaged $35,310 in 2024 dollars, and 56% borrowed, so both the share who borrow and the amount borrowed have fallen. Students at for-profit colleges, not included here, are more likely to borrow and borrow more.
Graduate and Professional Degrees
Graduate borrowers carry much larger balances, and medical, dental and law school debt often reaches six figures. From July 1, 2026 new federal graduate borrowing is capped at $20,500 a year and $100,000 in total ($50,000 a year and $200,000 for professional degrees), and Grad PLUS loans are no longer available to new borrowers. See Grad PLUS loans and average student loan payment by degree.
Average Student Loan Debt by State
Highest and lowest average federal balances per borrower:
| Rank | State | Average Federal Balance | Borrowers |
|---|---|---|---|
| 1 | District of Columbia | $55,846 | 114,600 |
| 2 | Maryland | $45,589 | 842,300 |
| 3 | Georgia | $43,813 | 1,702,700 |
| 4 | Virginia | $41,916 | 1,085,500 |
| 5 | Florida | $41,162 | 2,747,700 |
| 6 | Illinois | $40,774 | 1,601,500 |
| 7 | New York | $40,666 | 2,456,600 |
| 8 | Delaware | $40,639 | 137,800 |
| 9 | Hawaii | $40,496 | 121,000 |
| 10 | North Carolina | $40,455 | 1,379,300 |
Source: Federal Student Aid, Federal Student Loan Portfolio by Borrower Location, data as of March 31, 2026. Average = outstanding federal balance ÷ borrowers; balances are published rounded to $0.1 billion, so small-state averages are approximate.
| Rank | State | Average Federal Balance | Borrowers |
|---|---|---|---|
| 42 | Indiana | $34,502 | 898,500 |
| 43 | Rhode Island | $34,068 | 149,700 |
| 44 | Wisconsin | $33,846 | 709,100 |
| 45 | West Virginia | $33,728 | 228,300 |
| 46 | Nebraska | $33,676 | 243,500 |
| 47 | Oklahoma | $33,483 | 510,700 |
| 48 | Wyoming | $32,847 | 54,800 |
| 49 | Iowa | $31,885 | 423,400 |
| 50 | South Dakota | $31,705 | 116,700 |
| 51 | North Dakota | $30,543 | 88,400 |
Source: Federal Student Aid, Federal Student Loan Portfolio by Borrower Location, data as of March 31, 2026. Average = outstanding federal balance ÷ borrowers; balances are published rounded to $0.1 billion, so small-state averages are approximate.
Every state is ranked in average student loan debt by state, and balances by borrower age are in average student loan debt by age.
Monthly Payment by Balance
| Debt | Standard 10-yr Payment (6.52%) | Total Interest | Yearly Income for Payment to Be 10% of Gross |
|---|---|---|---|
| $20,000 | $227 | $7,276 | $27,276 |
| $29,560 (average bachelor’s borrower) | $336 | $10,754 | $40,314 |
| $40,770 (average federal balance) | $463 | $14,832 | $55,602 |
| $55,000 | $625 | $20,009 | $75,009 |
| $75,000 | $852 | $27,285 | $102,285 |
| $100,000 | $1,136 | $36,380 | $136,380 |
| $150,000 | $1,705 | $54,570 | $204,570 |
How Much Is Too Much? The 1x Salary Rule
The guideline: Total student loan debt should not exceed your expected first-year salary.
| Expected Starting Salary | Safe Debt Level | Manageable Debt | Risky Debt |
|---|---|---|---|
| $45,000 | Under $45,000 | $45,000–$67,500 | Over $67,500 |
| $60,000 | Under $60,000 | $60,000–$90,000 | Over $90,000 |
| $75,000 | Under $75,000 | $75,000–$112,500 | Over $112,500 |
Exceptions: High-earning professions (medicine, law) can support higher debt-to-income ratios — a physician earning $250,000 can manage $215,000 in medical school debt. The 1x rule applies best to undergraduate borrowers.
Is Your Debt Level Manageable?
A quick rule: on a 10-year plan at today’s undergraduate rate, the monthly payment is about 1.1% of the balance.
- $30,000 debt → about $341/month
- $50,000 debt → about $568/month
- $80,000 debt → about $909/month
If your take-home pay is $3,500 a month, a $909 payment is 26% of it, which is difficult; $341 is under 10%, which is manageable.
For high debt relative to income, see income-driven repayment plans: the Repayment Assistance Plan (RAP) charges 1%–10% of income, with any balance left after 30 years forgiven.
Related Guides
- How to Pay for College
- Student Loan Payoff Guide
- How to Refinance Student Loans
- True Cost of College
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