Student loan debt (2019)

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STUDENT LOAN DEBT - Statistics in 2019

Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans. According to Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt in the U.S. alone. The average student in the Class of 2016 has $37,172 in student loan debt.

Student Loan Statistics: Overview

• Total Student Loan Debt $1.52 TRILLION
• Total U.S. Borrowers With Student Loan Debt 44.2 MILLION
• New Delinquent Balances $32.6 BILLION

Distribution Of Student Loan Borrowers By Balance

• Less than $5,000: 8,769,700
• $5,000 - $10,000: 7,554,100
• $10,000 - $25,000: 12,368,200
• $25,000 - $50,000: 8,483,600
• $50,000 - $75,000: 3,539,00
• $75,000 - $100,000: 1,503,800

8 States With The Most Student Loan Debt

• New York $78.4B - 2.3M people
• Ohio $53.5B - 1.7M people
• Pennsylvania $53.7B - 1.7M people
• Georgia $54B - 1.5M people
• Florida $78.9B - 2.3M people
• Illinois $52.4B - 1.6M people
• Texas $92.5B - 3.1M people
• California $120B - 3.7M people

8 States With the Lowest Amount of Student Loan Debt

• Wyoming $1.53 B
• Alaska $2.03 B
• Vermont $2.80 B
• North Dakota $2.93 B
• South Dakota  $3.34 B
• Montana $3.44 B
• Hawaii $3.55 B
• Delaware $4.21 B

Graduate student loan debt

About 40% of the $1 trillion studunt loan debt was used to finance graduate and professsional degrees.

Combine undergraduateand graduate debt by degree:

• MBA $42,000
• Master of Education $50,879
• Master of Arts $58,539
• Law $140,616
• Medicine and health $161,772