EPI's weekly illustration of education data trends — Septembert 1, 2016

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Distribution of Borrowers by Debt Balance, 2014

 

Eighty-three percent of all students at four-year public institutions receive some form of federal student aid and 50 percent of freshman students take on a federal loan. Over 43 million Americans have some student loan debt with an average monthly payment of $351, and one-third of students have debt above $25,000.

As illustrated below, most of that debt is small with 39 percent of borrowers owing less than $10,000. However, another 28 percent owe between $10k and $25k, and 18 percent between %25k and $50k. Fourteen percent of borrowers owe over $50,000.

 

SOURCE: The College Board Trends in Higher Education; Federal Reserve Bank of New York Consumer Credit Panel/Equifax.