Student Loan Debt Statistics Report Highlights. Student loan debt in the United States totals $1.777 trillion ; annual growth resumed in 2024 following a year-over-year (YoY) decline in 2023. The outstanding federal student loan balance is $1.693 trillion; 42.7 million student borrowers have federal loan debt. Federal student loan debt represents 92.2% of all student loan debt; 7.79% of student loan debt is private, including $29.3 billion in refinance loans. The average federal student loan debt balance is $38,375 , while the total average balance (including private loan debt) may be as high as $41,618. 4.86% of federal student loans dollars were in default as of 2024’s fourth financial quarter ( 2024 Q4 ); 1.61% of private student loans were in default as of 2024 Q1. The average public university student borrows $31,960 to attain a bachelor’s degree . First-Time, Full-Time Degree/Certificate-Seeking Undergraduate Students Receiving Loans and Average Annual Loan Amounts Stud...