Table of Contents
- Average Student Loan Debt After College
- How Student Loan Debt Has Changed Over the Last Decade
- Student Loan Debt at Public vs Private Colleges
- Undergraduate vs Graduate Student Loan Debt
- Student Loan Debt by State: How Does It Compare?
- What’s the Average Monthly Student Loan Payment?
- How Long It Takes to Pay Off Student Loans
- FAQ
The average student loan debt for a graduate with a bachelor’s degree is $36,710, according to the latest data from the Education Data Initiative (EDI).
The specific amount of student loan debt a borrower has depends on factors such as the type of school they attended, whether or not they pursued an advanced degree, and any scholarships they may have received.
Read on for more details about the average student loan debt after graduation and information about repaying student loans.
Key Points
• The average student loan debt for a bachelor’s degree graduate is $36,710.
• Graduates of public four-year colleges owe $29,694, those who attended private nonprofit colleges owe $44,100, and grads of private for-profit schools owe $22,509.
• Graduate students borrow more, averaging $17,710 a year in federal loans, compared to undergraduates, who averaged $3,790.
• The average monthly student loan payment is about $434 but can vary by loan amount, interest rate, and repayment plan.
• Student loan repayment plans as of July 2026 are the Tiered Standard Plan and Repayment Assistance Plan, each with different terms and payment structures.
Average Student Loan Debt After College
As noted above, the latest data from the Education Data Initiative found that the average student debt after four years of college is $36,710 per borrower. Forty-four percent of federal student loan borrowers have loans currently in repayment, according to the EDI.
As of Q1 2026, the total amount of student loan debt in the U.S. was approximately $1.86 trillion. According to EDI, 42.6 million borrowers have federal student loan debt.
How Student Loan Debt Has Changed Over the Last Decade
It’s no secret that college is expensive and has only gotten more costly in the last decade or so. According to data compiled by Forbes, the cost of attending university increased by 93.2% from 2005-2025.
Student loan debt statistics are just as eye-opening. From 2015-2025, total outstanding student loan debt grew from $1.32 trillion to $1.83 trillion in order to cover those costs. This student loan debt is taking a financial toll on graduating students, potentially affecting their credit and home-buying prospects, among other things.
Student Loan Debt at Public vs Private Colleges
According to the latest information from the Education Data Initiative, graduates of public four-year institutions have an average college debt of $29,694, compared to private, nonprofit school borrowers, who graduate with an average debt of $44,100.
Those who attended four-year private for-profit colleges have an average debt of $22,509. Students at for-profit schools tend to take out more in student loans.
Undergraduate vs Graduate Student Loan Debt
There are also some significant differences in the student loan debt of undergraduate and graduate students. The College Board’s annual survey of student aid trends found that, on average, undergraduates took out $3,790 in federal student loans in the 2024-2025 school year. That same year, graduate students took out $17,710 in federal loans.
There are about 6.2 million people under the age of 24 with student loan debt. As a group, they owe just over $85.6 billion, according to Federal Student Aid, an office of the U.S. Department of Education.
Student Loan Debt by State: How Does It Compare?
Federal student loan debt totals average approximately $31.5 billion per state (including the District of Columbia and Puerto Rico), according to the Education Data Initiative.
The latest data from EDI show that the District of Columbia has the highest federal student loan debt, and North Dakota has the lowest.
These are the 10 states with the highest average federal student loan debt per borrower:
• District of Columbia: $55,846
• Maryland: $45,589
• Georgia: $43,813
• Virginia: $41,916
• Florida: $41,162
• Illinois: $40,774
• New York: $40,666
• Delaware: $40,639
• Hawaii: $40,496
• North Carolina: $40,455
The states with the lowest average federal student loan debt per borrower are:
• Indiana: $34,502
• Rhode Island: $34,068
• Wisconsin: $33,846
• West Virginia: $33,728
• Nebraska: $33,676
• Oklahoma: $33,483
• Wyoming: $32,847
• Iowa: $31,885
• South Dakota: $31,705
• North Dakota: $30,543
What’s the Average Monthly Student Loan Payment?
Borrowers’ monthly student loan payments can vary depending on the amount of debt they carry — the typical borrower with a bachelor’s degree owes $36,710 after four years of college — and the type of repayment plan they choose. According to the latest data from the Education Data Initiative, a typical monthly payment for student loans is around $434.
How Long It Takes to Pay Off Student Loans
The standard amount of time it takes to pay off federal student loans is 10 years, but repayment terms can range as long as 20 or 30 years, depending on the repayment plan a borrower opts for.
As of July 1, 2026, the options for federal student loan repayment plans are:
• Tiered Standard Plan: This gives you 10-25 years to pay off your loans, depending on the loan’s total outstanding principal balance, and you owe a fixed amount each month. The maximum repayment periods range from 10 years if you borrowed less than $25,000 to 25 years if you took out $100,000 or more.
• Repayment Assistance Plan (RAP): This plan bases borrowers’ monthly loan payments on their discretionary income and family size. For many borrowers, this means their payments will be lower. The repayment term for this plan is up to 30 years. At the end of that time, any remaining balance you owe on your loans may be forgiven.
Borrowers whose loans were disbursed before July 1, 2026, still have access to the following repayment options:
• Standard Repayment Plan: This gives you 10 years to pay off your loans, and you pay a fixed amount each month. You may pay less overall under this plan because of the relatively short repayment term.
• Graduated Repayment Plan: Borrowers who choose this plan pay lower monthly payments at the beginning, and the payments gradually increase at two-year intervals. The repayment term is 10 years (30 years for those with a Direct Consolidation Loan).
• Extended Repayment Plan: Borrowers who owe more than $30,000 in federal student loans may be eligible for this plan. If you qualify, you can extend your loan term up to 25 years, which could make your monthly payments smaller. However, you may pay more in interest overall.
• Income-driven Repayment (IDR) Plans: These plans base borrowers’ monthly loan payments on their discretionary income and family size. For many borrowers, this means their payments may be lower. The repayment terms for those on income-driven plans is 20-25 years. At the end of that time, any remaining balance you owe on your loans may be forgiven.
In general, the sooner a borrower pays off their student loans, the more they may save in the long run because they won’t be accruing interest for as long.
The interest rate on student loans also affects a borrower’s payments. If your student loan interest rate is higher than you’d like, you might want to consider student loan refinancing to see if you can qualify for a lower interest rate or a more favorable term.
Another option is loan consolidation. If you have federal student loans, a Direct Consolidation Loan allows you to combine them into one single loan. Although this may not save you money, it could simplify your payments since you’ll have just one bill to pay.
You can consider the pros and cons of student loan consolidation vs. refinancing to determine if either option is right for you.
The Takeaway
Those in search of options to manage student loan payments might consider student loan refinancing. This process involves replacing your current student loans with a new loan from a private lender. Ideally, you may qualify for a lower interest rate.
Borrowers who refinance may also be able to adjust their repayment terms. Extending the term could lower your monthly payments, but you might also end up paying more over the life of the loan.
It’s possible to refinance both private and federal student loans. Just be aware that refinancing federal loans with a private lender means losing access to federal benefits, such as income-based repayment.
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
FAQ
What is the average student debt after college in 2026?
The average student loan debt after college for a borrower with a bachelor’s degree is $36,710. On average, 20% of all U.S. adults with undergraduate degrees have student loan debt.
How many US borrowers have student loan debt in 2026?
In the U.S., 42.6 million borrowers have student loan debt, according to the Education Data Initiative. Of those, 6.2 million are under 24, according to the U.S. Department of Education’s Federal Student Aid office.
What is the average someone pays a month for student loans?
The average monthly student loan payment is approximately $434, according to the latest data from the Education Data Initiative. However, the amount a borrower pays per month will vary based on factors such as their total loan amount, their interest rate, and the repayment plan they selected.
What is the total student loan debt in the US in 2026?
The total amount of student loan debt in the U.S. is approximately $1.86 trillion as of Q1 2026, according to the Education Data Initiative. This is a 32.5% increase from 2016’s value of $1.41 trillion.
How long does it take most borrowers to pay off student loans in 2026?
The time it takes borrowers to pay off their federal student loans typically ranges from 10-30 years, depending on their financial situation and the repayment plan they’re on. The repayment terms for private student loans vary.
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