The average student loan debt for a bachelors degree is $36,510 and the average student loan debt for a masters degree is $71,318
This tables below show the average loan amounts in 2020 by loan type, degree and educational institution, based on data from Educationdata.org - Average Student Loan Debt.
Average Federal Student Loan Debt
| Federal Loan Program | Degree Level | Average Loan Amount |
|---|---|---|
| Direct Subsidized Loan | Undergraduate | $9,652 |
| Direct Unsubsidized Loan | Undergraduate | $18,486 |
| Parent PLUS Loan | Undergraduate | $28,000 |
| Direct Unsubsidized Loan |
Graduate | $16,840 |
| Grad PLUS Loan | Graduate | $55,200 |
Average Student Loan Debt by Degree Type
| Degree Type | Average Loan Amount |
|---|---|
| Bachelors | $36,510 |
| Masters | $71,318 |
| Law | Greater than $100,000 |
| Medical |
Greater than $200,000 |
Average Student Loan Debt by Educational Institution Type
| Institution Type | Average Loan Amount |
|---|---|
| Public | $26,382 |
| Private Non-Profit | $37,971 |
| Private For-Profit | $21,244 |
Other Student Loan Statistics:
- 95% of all student loan borrowers have federal student loan debt
- Borrowers still owe on average $20,000, 20-years after first starting school
- The average federal student loan debt is $36,510
- The average private student loan debt is $54,921
- The median monthly payment for student loans is $250