The Crippling Student Debt Cliché is Exaggerated
It seems common to hear horror stories regarding crippling student debt in the United States, often to the tune of $100,000. However, according to new research, such high debt levels are rare. In fact, the vast majority of people with education debts are faced with paying back less than $20,000.
According to new data released by Brookings and reported by the New York Times, 58 percent of American households have a college debt level under $10,000 dollars while 18 percent indicated they have study debts between $10k and $20k.
Average debt of university graduates in the United States in 2020, by state (in U.S. dollars)
Average university graduate debt levels in the United States from 1999/00 to 2019/20, with estimates for 2025/26 (in 1,000 U.S. dollars)
Share of adults who believe their student loan debt was not worth it in the United States in 2019, by student debt amount
Value of student loan debt held in the United States in 2020
Perception of whether higher education is worth the price in the United States in 2022, by institution type
Share of Americans who had difficulty paying bills or expenses in the United States in January 2024, by student debt status
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