Average Student Loan Debt

According to statistics calculated by NPSAS (National Postsecondary Student Aid Study), the average student loan debt among undergraduate 4-year seniors is just over $23,000 (this figure excludes PLUS Loans but includes Perkins, Stafford, state, college, and private loans). When you include parent-assisted PLUS loans, the average student loan debt upon graduation increases to nearly $28,000.

If you just consider public universities, the average student loan debt is just over $19,000. The average four-year private (non-profit) college loan debt, however, is much higher at $27,000. Over 65% of undergraduate college students receive some form of financial aid.

Graduate School

Now let’s take a look at graduate school debt. Graduate and professional students have an even higher average student loan debt upon graduation. Cumulative debt from a graduate degree generally ranges from $28,000 to $125,000. The average additional debt for someone receiving a Master’s degree is $31,000. The average student loan debt exceeds $57,000 for a Doctoral degree, and more than $87,000 for a Professional degree.

Undergraduate and Graduate Debt

If we look at cumulative statistics (undergraduate and graduate average student loan debt), the average Bachelor's and Master's degree debt combines to equal over $40,000. Bachelor’s and Doctoral degrees have an average student loan debt of $59,000, while the average Bachelor's and Professional degree debt comes at the high price tag of $99,000.

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