Student Loan Debt Facts
- 69% of students of the Class of 2018 have an average student loan debt of $29,800
- 14% of parents took out an average of $35,600 in student loans5)
- 44.7 million Americans have student loan debt
- Average monthly student student loan payment is $393
- The median monthly student loan payment is $222
- Student loan default percentages by college type within 12 years:
- 48% default from for-profit colleges
- 12% of public college attendees,
- 14% of nonprofit college attendees
- Student loans are generally set to be paid off in 10-years,
- Average bachelor’s degree holder takes 21 years to pay off college loans!
