In this article:
- Student Loan Debt Highest Among Consumers in Their Mid-30s
- Consumers in Their Early 20s Have Lowest Student Loan Debt
- Consumers Ages 30 to 60 Have Above Average Student Loan Debt
- Consumers in Their 20s
- Consumers in Their 30s
- Consumers in Their 40s
- Consumers in Their 50s
- Consumers in Their 60s
- Consumers in Their 70s
- Consumers in Their 80s
- Consumers 90-Plus
The total amount of student loan debt in the U.S. recently reached a record high of $1.4 trillion, according to Experian data. And as that number grows, consumer student loan debt in nearly all age groups is increasing in tandem.
As part of our ongoing look at student loan debt in America, Experian analyzed the average student loan debt carried by consumers between ages 20 and 100 to see who carries the highest balances. Read on for our insights and analysis.
Student Loan Debt Highest Among Consumers in Their Mid-30s
Overall, 35-year-old consumers in the U.S. have the highest student loan balances of anyone ages 20 to 100, carrying an average balance of $42,564, according to Experian data from the second quarter (Q2) of 2019. They were followed by 34-year-olds and 36-year-olds, who carried the second-highest and third-highest average student loan balances, respectively.
Consumers in Their Early 20s Have Lowest Student Loan Debt
On the other end of the spectrum, 20-year-olds have the lowest student loan balances, owing an average of $11,576, according to Experian data from Q2 2019. They were followed by 21-year-olds and 22-year-olds, who had the second- and third-lowest balances, respectively.
The lower debt levels among younger consumers is attributable to several factors, including their age and what year they're in in school. For students who attended a college or university directly from high school, they may have only completed half of their degree by the time they are 20. These younger consumers are also less likely to have started an advanced degree, which in many cases is an additional cost covered by student loans.
Consumers Ages 30 to 60 Have Above Average Student Loan Debt
The average student loan debt for all borrowers between the ages of 30 and 60 were consistently above the national average of $35,620, according to Experian data from Q2 2019.
Consumers in Their 20s
The average student loan balances among consumers in their 20s was $21,682 in Q2 2019. That's up from an average of $18,903 in Q2 2018, according to Experian data.
| Average Student Loan Debt Among Consumers in Their 20s | |
|---|---|
| Age | Average Student Loan Debt |
| 20 | $11,576 |
| 21 | $11,777 |
| 22 | $13,280 |
| 23 | $18,432 |
| 24 | $21,055 |
| 25 | $22,933 |
| 26 | $25,016 |
| 27 | $27,834 |
| 28 | $30,737 |
| 29 | $34,176 |
*Source: Experian Q2 2019 data
Consumers in Their 30s
The average student loan balance among consumers in their 30s was $40,476 in Q2 2019. That's up from an average of $37,537 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 30s | |
|---|---|
| Age | Average Student Loan Debt |
| 30 | $36,406 |
| 31 | $38,560 |
| 32 | $40,563 |
| 33 | $41,374 |
| 34 | $42,316 |
| 35 | $42,564 |
| 36 | $41,911 |
| 37 | $40,703 |
| 38 | $40,425 |
| 39 | $39,936 |
*Source: Experian Q2 2019 data
Consumers in Their 40s
The average student loan balance among consumers in their 40s was $40,432 in Q2 2019. That's up from an average of $38,322 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 40s | |
|---|---|
| Age | Average Student Loan Debt |
| 40 | $40,133 |
| 41 | $40,075 |
| 42 | $39,882 |
| 43 | $40,283 |
| 44 | $40,875 |
| 45 | $40,321 |
| 46 | $$40,885 |
| 47 | $41,161 |
| 48 | $40,609 |
| 49 | $40,091 |
*Source: Experian Q2 2019 data
Consumers in Their 50s
The average student loan balance among consumers in their 50s was $37,656 in Q2 2019. That's up from an average of $35,470 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 50s | |
|---|---|
| Age | Average Student Loan Debt |
| 50 | $39,814 |
| 51 | $39,309 |
| 52 | $38,786 |
| 53 | $38,381 |
| 54 | $37,682 |
| 55 | $37,302 |
| 56 | $36,985 |
| 57 | $36,462 |
| 58 | $36,005 |
| 59 | $35,832 |
*Source: Experian Q2 2019 data
Consumers in Their 60s
The average student loan balance among consumers in their 60s was $33,804 in Q2 2019. That's up from an average of $32,035 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 60s | |
|---|---|
| Age | Average Student Loan Debt |
| 60 | $35,637 |
| 61 | $35,345 |
| 62 | $34,641 |
| 63 | $34,281 |
| 64 | $33,715 |
| 65 | $33,271 |
| 66 | $33,334 |
| 67 | $33,388 |
| 68 | $32,149 |
| 69 | $32,282 |
*Source: Experian Q2 2019 data
Consumers in Their 70s
The average student loan balance among consumers in their 70s was $28,757 in Q2 2019. That's up from an average of $27,371 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 70s | |
|---|---|
| Age | Average Student Loan Debt |
| 70 | $31,662 |
| 71 | $31,897 |
| 72 | $31,215 |
| 73 | $29,437 |
| 74 | $29,502 |
| 75 | $28,445 |
| 76 | $27,906 |
| 77 | $25,969 |
| 78 | $26,184 |
| 79 | $25,354 |
*Source: Experian Q2 2019 data
Consumers in Their 80s
The average student loan balance among consumers in their 80s was $22,879 in Q2 2019. That's up from an average of $22,582 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 80s | |
|---|---|
| Age | Average Student Loan Debt |
| 80 | $23,283 |
| 81 | $24,148 |
| 82 | $22,794 |
| 83 | $23,033 |
| 84 | $22,608 |
| 85 | $22,464 |
| 86 | $23,287 |
| 87 | $23,731 |
| 88 | $23,116 |
| 89 | $20,328 |
*Source: Experian Q2 2019 data
Consumers 90-Plus
The average student loan balance among consumers 90 through 100 years old was $21,492 in Q2 2019. That's up from an average of $21,355 in Q2 2018.
| Average Student Loan Debt Among Consumers in Their 90s | |
|---|---|
| Age | Average Student Loan Debt |
| 90 | $22,054 |
| 91 | $20,793 |
| 92 | $20,638 |
| 93 | $19,821 |
| 94 | $21,057 |
| 95 | $19,812 |
| 96 | $24,307 |
| 97 | $19,242 |
| 98 | $16,473 |
| 99 | $25,428 |
| 100 | $26,785 |
*Source: Experian Q2 2019 data
Methodology: The analysis results provided are based on an Experian-created statistically relevant aggregate sampling of our consumer credit database that may include use of the FICO® Score 8 version. Different sampling parameters may generate different findings compared with other similar analysis. Analyzed credit data did not contain personal identification information. Metro areas group counties and cities into specific geographic areas for population censuses and compilations of related statistical data.
FICO® is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.