The data in this figure is described in the surrounding text.

Fast Facts: Student debt (900)

Student debt

Question:
What statistics do you may have on student loan debt and compensation for faculty students?

Response:

Average Cumulative Student Loan Debt Among Degree/Certificate Completers

The common cumulative loan quantity borrowed amongst 2015–16 undergraduate diploma/certificates completers who ever acquired loans was lowest amongst certificates completers ($16,500), adopted by affiliate’s diploma completers ($19,700) and bachelor’s diploma completers ($31,800).1 Among bachelor’s diploma completers, those that attended public establishments acquired the bottom cumulative loan quantity ($28,600), adopted by those that attended non-public nonprofit establishments ($33,900) and those that attended non-public for-profit establishments ($43,900). Among affiliate’s diploma completers, those that attended public establishments acquired a decrease cumulative loan quantity ($16,600) than those that attended non-public nonprofit establishments ($26,400) and those that attended non-public for-profit establishments ($28,100). Among certificates completers, nevertheless, there have been no measurable variations in cumulative loan quantities between those that attended public, non-public nonprofit, or non-public for-profit establishments.


Average cumulative loan quantity for undergraduate diploma/certificates completers who ever acquired loans, by diploma kind and management of establishment: Academic 12 months 2015–16

The data in this figure is described in the surrounding text.

NOTE: Degree-granting establishments grant affiliate’s or increased levels and take part in Title IV federal monetary support packages. Includes solely loans made on to students; doesn’t embrace Parent PLUS Loans or different loans made immediately to oldsters. Constant {dollars} are based mostly on the Consumer Price Index, ready by the Bureau of Labor Statistics, U.S. Department of Labor, adjusted to an academic-year foundation. Averages exclude students with no student loans.


1In this paragraph of the Fast Fact, all greenback quantities are expressed in fixed 2018–19 {dollars}. Includes solely loans made on to students. Does not embrace Parent PLUS Loans or different loans made immediately to oldsters.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2020). Condition of Education: 2020 (NCES 2020-144), Loans for Undergrate Students.

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Cumulative Borrowing and Repayment over Time

Among 2015–16 bachelor’s diploma recipients who took out federal student loans, the common proportion of federal student loans nonetheless owed 12 months after diploma completion was 92 %.2

Percentage of 2015–16 bachelor’s diploma recipients who took out federal loans for postsecondary training, common quantity borrowed, and ratio of quantity owed 12 months after bachelor’s diploma completion to quantity borrowed, by demographic and enrollment traits in 2017
  Total federal loans Undergraduate federal loans1 Graduate federal loans2 Average ratio of quantity owed to quantity borrowed6
Demographic and enrollment traits Percent who borrowed Amount borrowed3 Percent who borrowed Amount borrowed4 Percent who borrowed Amount borrowed5
Total 68.0 $30,800 66.6 $27,400 10.4 $25,600 91.7
Sex
Female 71.1 31,700 69.6 28,100 11.7 25,300 93.3
Male 63.9 29,400 62.5 26,500 8.7 26,100 89.4
Race/ethnicity7
White, not Hispanic or Latino 67.7 29,900 66.1 26,700 9.8 26,400 89.3
Black, not Hispanic or Latino 86.3 39,500 85.7 34,800 17.3 25,100 103.0
Hispanic or Latino, of any race 70.1 28,200 67.7 25,700 11.3 21,400 94.6
Asian, not Hispanic or Latino 43.9 26,500 43.0 22,700 5.8 32,100 81.4
Other or Two or extra races, not Hispanic or Latino 71.3 31,000 70.4 28,300 9.4 22,400 97.9
Control of bachelor’s diploma establishment
Public 66.2 28,900 64.4 25,700 10.1 25,300 91.2
Private nonprofit 68.8 31,300 67.7 27,600 10.5 27,000 91.0
Private for-profit 84.3 44,200 83.8 40,700 13.7 22,700 98.8
1“Undergraduate federal loans” contains sponsored and unsubsidized Direct Loans (previously known as Stafford Loans) and Perkins Loans. Excludes Parent PLUS loans.
2“Graduate federal loans” contains sponsored and unsubsidized Direct Loans (previously known as Stafford Loans), Perkins Loans, and Graduate PLUS loans taken out to pay for any training above the bachelor’s diploma stage, together with skilled observe doctoral packages reminiscent of regulation, drugs, and many others.
3Amount borrowed is calculated amongst those that took out both undergraduate or graduate federal loans and contains each their undergraduate and graduate federal loan quantities.
4Amount borrowed is calculated amongst those that took out undergraduate federal loans and contains solely their undergraduate federal loan quantities.
5Amount borrowed is calculated amongst those that took out graduate federal loans and contains solely their graduate federal loan quantities.
6Includes respondents who had paid off their loans as of 12 months after bachelor’s diploma completion and owed $0. The ratio of quantity owed to quantity borrowed could also be over one hundred pc as a result of the quantity owed contains curiosity accrued whereas loans are in deferment, inflicting the borrower to owe greater than the unique quantity borrowed.
7“Black, not Hispanic or Latino” contains African American; and “Other or Two or extra races, not Hispanic or Latino” contains American Indian or Alaska Native, Native Hawaiian or different Pacific Islander, and respondents who establish as a couple of race.
NOTE: Estimates pertain to people who accomplished the necessities for a bachelor’s diploma in 2015–16 and had been awarded their diploma by a Title IV eligible postsecondary establishment within the 50 states, the District of Columbia, or Puerto Rico no later than June 30, 2017. This desk contains the 6 % of respondents for whom the 2015–16 bachelor’s diploma was not their first bachelor’s diploma.
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2 Text from an IES NewsFlash dated July 27, 2020.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2020). One Year After a Bachelor’s Degree: A Profile of 2015–16 Graduates (NCES 2020-341), Table 5.1.

Related Tables and Figures:  (Listed by Release Date)

  • 2021, Digest of Education Statistics 2019, Table 330.10. Average undergraduate tuition and costs and room and board charges charged for full-time students in degree-granting postsecondary establishments, by stage and management of establishment: Selected years 1963–64 via 2018–19
  • 2021, Digest of Education Statistics 2019, Table 331.10. Percentage of undergraduates receiving monetary support, by kind and supply of support and chosen student traits: 2015–16
  • 2021, Digest of Education Statistics 2019, Table 331.50. Aid standing and sources of support for full-time and part-time undergraduates, by management and stage of establishment: 2011–12 and 2015–16
  • 2021, Digest of Education Statistics 2020, Table 331.95. Percentage of undergraduate diploma/certificates completers who ever acquired loans and common cumulative quantity borrowed, by diploma stage, chosen student traits, and establishment management: Selected years, 1999–2000 via 2015–16
  • 2020, The Condition of Education 2020: Loans for Undergraduate Students
  • 2020, The Condition of Education 2020: Price of Attending an Undergraduate Institution
  • 2018, The Condition of Education, 2018: Trends in Student Loan Debt for Graduate School Completers

Other Resources:  (Listed by Release Date)

  • 2021, Beginning Postsecondary Study (BPS): This research
    collects information on quite a lot of matters, together with student demographic traits, college and work experiences, persistence, switch, and diploma attainment.
  • 2021, Federal Student Aid Data Center
  • 2021, National Postsecondary Student Aid Study (NPSAS): NPSAS examines the traits of students in postsecondary training, with particular deal with how they finance their training.
  • 2021, The Integrated Postsecondary Education Data System (IPEDS): IPEDS is a system of surveys designed to gather information from all main suppliers of postsecondary training.
  • 2019, Changes in Undergraduate Program Completers’ Borrowing Rates and Loan Amounts by Age: 1995–96 Through 2015–16
  • 2018, Debt After College: Employment, Enrollment, and Student-Reported Stress and Outcomes
  • 2018, NCES Blog: Trends in Graduate Student Loan Debt
  • 2017, Four Years After a Bachelor’s Degree: Employment, Enrollment, and Debt Among College Graduates
  • 2017, Repayment of Student Loans as of 2015 Among 1995–96 and 2003–04 First-Time Beginning Students: First Look
  • 2017, The Debt Burden of Bachelor’s Degree Recipients
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