In 2025, student loan debt in the United States has reached an unprecedented $1.77 trillion, encompassing both federal and private loans.
This staggering figure shows the financial strain on millions of Americans pursuing higher education. According to the College Board, the average undergraduate borrower owes $29,300, while the average U.S. household with student debt carries a hefty $55,347.
Despite the widespread pursuit of college degrees, many Americans question whether the cost justifies the outcome. A 2024 study by NerdWallet revealed that while 57 percent of Americans believe in the value of a four-year degree, 30 percent of those who borrowed for their own education regret taking on student loans.
How varies by degree and demographics
Student loan debt significantly differs depending on the type of degree pursued. Bachelor’s degree recipients, on average, owe $29,300 upon graduation. For those advancing to graduate or professional programs, the financial burden increases steeply.
Graduate students accumulate an average debt of $77,300, while law school graduates owe $132,740 on average. Medical and dental school students face even more daunting numbers, with debts averaging $212,341 and $296,500, respectively.
These figures reflect the high cost of specialized education, which often leads to higher salaries but also necessitates years, if not decades, of repayment.
Parent PLUS loans also add to the financial strain on families, with an average debt of $30,639. This borrowing often supports children’s education but places an additional burden on parents, potentially delaying their own financial goals or retirement plans.
Nursing, pharmacy, and veterinary school graduates also face significant debt levels, ranging from $40,000 to $296,000, depending on the field.
Demographics further shape the debt landscape. Borrowers aged 50 to 61 carry the highest average debt, at $46,790, highlighting the long-term impact of student loans, which can persist well into retirement years.
Younger borrowers under 24 owe an average of $14,162, while those aged 25 to 34 face debts averaging $33,150.
Gender and race disparities also play a significant role. Women, on average, borrow slightly more than men, with debts of $31,276 compared to $29,270.
However, black women bear the heaviest burden. They graduate with 43 percent more undergraduate debt and nearly 99 percent more graduate school debt than their white counterparts, according to a 2022 study by The Education Trust.
This reflects systemic inequities in access to education and financial resources, disproportionately affecting marginalized communities.