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.
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Average Student Loan Debt by Year.
| 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.