Who holds most student debt?
Asked by: Patsy Wisoky | Last update: December 15, 2025Score: 4.2/5 (72 votes)
Net worth: Least wealthy Americans most likely to hold student loan debt. American families with the lowest net worths (the total amount of financial and nonfinancial assets, minus debt) are most likely to hold student loan debt — and large amounts of it.
Who owns the majority of student debt?
Most student loans — about 92.4% — are owned by the government. Total federal student loan borrowers: 42.7 million.
Who is the largest holder of student loans?
Also in 2023, 92.8% of all student loan debt was federal; 7.2% belonged to private borrowers. Federal and private student loan debt combined decreased by $34.9 billion in 2023.
Who has the highest student debt in the world?
The #1 most expensive place to go to college in the world
Student debt is making headlines in the UK as student debt balloons. However, their repayment structure looks quite different from the US's. University graduates begin loan repayment once they earn over the income threshold amount for their repayment plan.
Who owes the most in student loan debt?
- 34% of adults between the ages of 18 and 29 owe student loan debt.
- 22% of adults between the ages of 30 and 44 owe student debt.
- 7% of those between the ages of 45 and 59 owe student debt.
A list shows the states with the Most and Least Student Debt
Who is the billionaire that paid off student debt?
Billionaire Robert F. Smith pledged to pay off student loans for every member of Morehouse College's graduating class. The Ivy League-educated business leader made his fortune investing in software firms and other tech companies.
What race holds the most student loan debt?
Black adults are more than twice as likely than white adults to have student loan debt. The following graph includes federal and private student loan debt among all adults. On average, Black adults in the U.S. also hold higher student loan debt balances than borrowers of other races.
Which gender has the most student loan debt?
The American Association of University Women (AAUW) estimates that women hold nearly 67% of all U.S. student loan debt, or approximately $929 billion.
What percent of Gen Z has student loan debt?
Student loan debt
Young people are more likely to have student loan balances: 24.3% of millennials and 20.2% of Gen Z are in student debt, compared to 14.9% of Gen X, 6.1% of boomers and only 1.4% of the silent generation.
Which gen has the most debt?
The Gen X debt situation
The cohort also has the largest share of people with debt, nearly 99% carry some type of balance, LendingTree found. Gen Xers led the way in three of the four categories analyzed. The group — between 44 and 59 years old — has the highest median credit card, auto loan and student loan balances.
How many people have over $100,000 in student loans?
Adults with a postgraduate degree are especially likely to have a large amount of student loan debt. About a quarter of these advanced degree holders who borrowed (26%) owed $100,000 or more in 2023, compared with 9% of all borrowers. Overall, only 1% of all U.S. adults owed at least $100,000.
Which group has the most student debt?
A large cadre of research now shows that student debt disproportionately burdens Black borrowers. Not only are Black students more likely to borrow, and to need to borrow more, but they struggle much more with paying back their loans.
What happens to student loans without the Department of Education?
1 If the Education Department was shut down, then the management of federal student loans and other programs could fall to different government departments or even a government corporation. If the latter came to pass, it could also mean that certain borrower protections would cease to exist.
Are children responsible for parents' student loan debt?
The same principle applies to student loans. In the case of student loans, the student is responsible for repaying the debt — whether they graduated or not. The only exception to this rule are parent PLUS loans, in which the parent — not the student — is responsible for that debt.
Can federal student loans be sold?
Private loans may be bought out by another company. Federal loans may be transferred by the U.S. Department of Education from one member of its servicing team to another. Your federal loan servicer's contract may end with the U.S. Department of Education, resulting in a transfer.
How long does it take the average person to pay off student loans?
On average, people with student loans have spent just over 21 years paying back their loans. Federal student loans offer repayment plans that last from 10 to 30 years. Private student loan repayment terms vary.
What percentage of Gen Z is college educated?
Highly educated
Generation Z students are on track to become the most educated generation. They have higher high school graduation rates and lower dropout rates than those who came before. In 2018, 57% of 18 to 21-year olds were in college, compared with 52% of Millennials, and 43% of Gen Xers at similar ages.
How much student loan debt do baby boomers have?
Boomers have an average student loan debt balance 10.8% higher than the nationwide average. The average student borrower owes $4,080 more than the average Boomers borrower. 40% of Boomers student borrowers have loan payments less than $200. 30% of Boomers with student loan debt have payments over $500.
Which gender holds the most credit card debt?
Women are stereotypically seen as irresponsible spenders, but the data doesn't back this up. According to a 2019 Experian study, men carry more debt than women across nearly all categories, including credit card debt — the study found that men have $125 more in credit card debt than women on average.
Who finances most student loans?
Student loans in the U.S. are generally either owned by the federal government or financial institutions. The federal government fully guarantees almost all student loans. Some student loans are held by agencies like Sallie Mae or a third-party loan servicing company.
Which generation has the most student debt?
In 2024, the generation Z in the United States had an average of roughly 22,950 U.S. dollars in student loan debt. By contrast, Generation X had the highest student loan debt, amounting to approximately 44,240 U.S. dollars.
Which race gets the most financial aid?
The percentage of students who received Pell Grants was highest for Black students (72 percent) and lowest for Asian (36 percent) and White (34 percent) students.
What race has the most credit card debt?
Average credit card debt by race
White Americans have average credit card debt of $6,930 and a median credit card balance of $3,000, the most of any racial identity/ethnicity.
Is student loan forgiveness bad for the economy?
Student loan debt slows new business growth and limits consumer spending. Broad student loan debt forgiveness may help boost the national economy by making it more affordable for borrowers to participate in it.