Best answer: What country has the highest student loan debt?

As you can see, students in the United States are graduating with far more student debt than any other country in the world. If you are wanting to save on tuition costs, you very well may want to consider going to a school outside of the United States.

Does the US have the highest student loan debt?

Among the Class of 2019, 69% of college students took out student loans, and they graduated with an average debt of $29,900, including both private and federal debt.

STUDENT LOAN DEBT STATISTICS BY LOAN PROGRAM:

Direct Loans $1.32 trillion 35.9 million borrowers
Total (All Federal) $1.57 trillion 42.9 million borrowers

What is the average student loan debt in America?

The average loan debt for a bachelor’s degree among the class of 2019 was $28,950, according to the most recent data available from The Institute for College Access & Success.

Average Student Loan Amounts by Debt Type.

Debt type Average debt
Parent PLUS loan debt $16,452
Law school debt $145,500
MBA student debt $66,300

How much do Americans owe student loans?

Consequently, outstanding U.S. student loan debt reached $1.7 trillion at the end of 2020, according to the Federal Reserve — an all-time high. Student loan debt is projected to keep growing, but its impact on borrowers differs depending on circumstance.

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How can I live debt free?

6 Ways to Maintain a Debt-Free Lifestyle

  1. Build a large savings. Working toward a sizable savings account is difficult, but it’s also the most important way to stay out of debt. …
  2. Pay off credit card transactions immediately. …
  3. Buy a cheap used car. …
  4. Go to community college. …
  5. Rent. …
  6. Buy only what you need.

What is the current average monthly student loan payment?

According to the Federal Reserve, the median payment for student loan borrowers is $222 per month.

How many students pay off their loans?

The Government expects that 25% of current full-time undergraduates who take out loans will repay them in full.

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