U.S. families with loans for college costs

In 2023, 51 percent of undergraduate students from families with an income of over 150,000 U.S. dollars borrowed money alone to cover their college education costs in the United States. Meanwhile, 63 percent of students from families with an income of under 50,000 U.S. dollars financed their college on their own.

Share of families using loans for their college education costs in the United States in 2023, by income

Characteristic	Funds borrowed by student only	Funds borrowed by both	Funds borrowed by parents only
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

Download

Source

Show detailed source information?

Already a member?

Sources

Use Ask Statista Research Service

Release date

August 2023

More information

Region

United States

Survey time period

March 31 to May 8, 2023

Number of respondents

847*

Special properties

Undergraduate students or their parents

Method of interview

Online survey

Supplementary notes

The figures refer to families loans, as well as other types of credit or borrowed money.

* Sample:
313 with an income of less than 50,000 U.S. dollars
385 with income between 50,000 and 100,000 U.S. dollars
139 with income between 100,000 and 150,000 U.S. dollars
110 with income of 150,000 U.S. dollars and higher.

Citation formats