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Financial Facts
According to research from the Federal Reserve Bank of New York, the average student loan monthly payment is $393. They also found that 50% of student loan borrowers owe more than $19,281 on their student loans.
Federal Reserve
Average Student Loan Debt
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$1.75 trillion in total student loan debt (including federal and private loans)
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$28,950 owed per borrower on average
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About 92% of all student debt are federal student loans; the remaining amount is private student loans
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55% of students from public four-year institutions had student loans
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57% of students from private nonprofit four-year institutions took on education debt (Forbes)
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