Student loan debt statistics (2026)
Key findings
- Total student loan debt (federal + private) is about $1.87 trillion as of early 2026 (Federal Reserve).
- The federal portfolio alone is roughly $1.69 trillion.
- About 43 million Americans hold federal student debt (estimates range ~42.8–44.6 million).
- The average federal balance is roughly $39,600 per borrower (late 2025).
- Borrowers aged 35–49 hold the most debt (>$600 billion); the 25–34 group holds about $500 billion.
- Debt resumed growing in 2026 after a rare stretch of declines in 2023.
1. Total U.S. student loan debt
Student loan debt is the second-largest category of American consumer debt, behind only mortgages and ahead of auto loans and credit cards. Combining federal and private loans, the total is about $1.87 trillion as of early 2026. The federal government holds the overwhelming majority — roughly $1.69 trillion — with private lenders accounting for the remainder.
| Measure | Approximate 2026 figure |
|---|---|
| Total student loan debt (federal + private) | ~$1.87 trillion |
| Federal student loan debt | ~$1.69 trillion |
| Federal borrowers | ~43 million |
| Average federal balance per borrower | ~$39,600 |
2. Debt by borrower age
Student debt is not just a young-borrower issue. The largest share is held by mid-career borrowers aged 35 to 49, who collectively owe more than $600 billion — often because graduate and professional debt was layered on top of undergraduate loans. Younger borrowers under 25 hold the smallest balances.
| Age group | Approximate outstanding balance |
|---|---|
| 24 and younger | Lowest (~$100 billion) |
| 25–34 | ~$500 billion |
| 35–49 | Highest (>$600 billion) |
| 50+ | High average balances (~$45,000+ each) |
3. Debt by balance size
Most borrowers owe relatively modest amounts — the majority carry balances under $40,000 — but a smaller group of high-balance borrowers accounts for a disproportionate share of the total. Borrowers with six-figure balances (often graduate and professional-degree holders such as physicians, dentists, and attorneys) are a minority of people but hold a large fraction of the dollars.
4. Who carries the biggest balances
Professional-degree programs drive the largest individual balances. Medical and dental graduates routinely owe two to three times the national average, which is why repayment strategy matters most for these borrowers. For a niche breakdown, see our physician & dentist debt statistics.
The bottom line on student loan debt statistics
Americans owe about $1.87 trillion, and after a brief dip in 2023 the total is growing again. Averages hide a wide range: most borrowers owe under $40,000, while professional-degree borrowers such as physicians and dentists carry the heaviest balances.
Sources & methodology
Figures on this page are drawn from primary sources and reflect the most recent data available as of July 2026. Totals are rounded; per-borrower and per-graduate figures are averages or medians as noted. This page is educational and updated as new data is released.
- Board of Governors of the Federal Reserve System, G.19 Consumer Credit
- U.S. Department of Education, Federal Student Aid, Federal Student Loan Portfolio
- Association of American Medical Colleges (AAMC), Physician Education Debt
- American Dental Education Association (ADEA), Educational Debt
Frequently asked questions
How much student loan debt is there in the US in 2026?
About $1.87 trillion federal and private combined (Federal Reserve), with roughly $1.69 trillion federal — the second-largest category of U.S. consumer debt after mortgages.
How many people have student loan debt?
About 43 million Americans carry federal student loan debt, with estimates ranging from roughly 42.8 to 44.6 million depending on source and period.
What is the average student loan debt?
Roughly $39,600 per federal borrower as of late 2025, though graduate and professional programs carry far higher balances.
Which age group holds the most student loan debt?
Borrowers aged 35 to 49 hold the most — more than $600 billion — followed by the 25-to-34 group at about $500 billion.
Is student loan debt growing or shrinking?
It resumed growing through 2025 and into 2026 after three consecutive quarters of decline in 2023.