What demographic owns the most student loan debt?

White and Caucasian students have the most cumulative student loan debt. Black and African American bachelor’s degree holders have an average $52,000 in student loan debt. 45% of this debt is from student loans for graduate school.

What group has the most student debt?

The highest-income 40% of households (those with incomes above $74,000) owe almost 60% of student loan debt. These borrowers make almost three-quarters of student loan payments. The lowest-income 40% of households hold just under 20% of student loans and make only 10% of the payments.

What profession has the most student loan debt?

Nurses who have a master of science in nursing have the most student loan debt, while those who have a bachelor’s degree or associate degree have lower debt, but may have lower salaries as well.

Which race has the most student loan debt?

Student Loan Debt by Race and Ethnicity

  • White and Caucasian students have the most cumulative student loan debt.
  • Black and African American bachelor’s degree holders have an average $52,000 in student loan debt.
  • 45% of this debt is from student loans for graduate school.

What is the average student loan debt in 2020?

The average student borrows over $30,000 to pursue a bachelor’s degree. A total of 45.3 million borrowers have student loan debt; 95% of them have federal loan debt.

Average Student Loan Debt by Year.

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Year Undergraduate Only All Student Debt
Year 2020 Undergraduate Only $36,635 All Student Debt $36,510

What profession has the most debt?

Dental school graduates have an average debt of 292,169, making them the most debt laden professional degree, followed by medical school at $201,490.

Which profession has the highest debt to income ratio?

Medical professionals have the highest debt-to-income ratio immediately after graduation. This is likely because MDs begin their careers in residencies, which are essentially low-paid apprenticeships lasting three to six years.

How much is master in debt?

Average Master’s Student Debt

$58,859 is the average student loan debt among master’s degree holders who attended public institutions; $46,593 is just from graduate school. $77,700 is the average debt among those who earned master’s degrees at private, nonprofit institutions; $62,029 is from graduate school.