— reports that
Among the Class of 2018, 69% of college students took out student loans, and they graduated with an average debt of $29,800, including both private and federal debt. Meanwhile, 14% of their parents took out an average of $35,600 in federal Parent PLUS loans.
Americans owe over $1.56 trillion in student loan debt, spread out among about 45 million borrowers. That's about $521 billion more than the total U.S. credit card debt.
11.5% of student loans are 90 days or more delinquent or are in default.
Average monthly student loan payment (among those not in deferment): $393.