The value of outstanding student loans in the United States has ballooned since the first quarter of 2006. As of the fourth quarter of 2024, American students owed over 1.77 trillion U.S. dollars in student loans. In the first quarter of 2006, this figure stood at 480.9 billion U.S. dollars.

As of the fourth quarter of 2024, federal student loan borrowers aged between 35 and 49 years had the most student debt out of all age groups in the United States, with a total outstanding debt of ***** billion U.S. dollars. Studies have shown that Black women are the most likely demographic to have student loan debt in the United States.

Debt Balance Student Loans in the United States increased to 1.63 Trillion USD in the first quarter of 2025 from 1.62 Trillion USD in the fourth quarter of 2024. This dataset includes a chart with historical data for the United States Debt Balance Student Loans.

Graph and download economic data for Student Loans Owned and Securitized (DISCONTINUED) (SLOAS) from Q1 2006 to Q4 2024 about student, securitized, owned, loans, and USA.

Due to the impact of the COVID-19 pandemic, the U.S government paused payments on federal student loans starting on March 13, 2020, moving billions of dollars of student debt into forbearance. Forbearance means that no payments need to be made, with the interest rate set to zero percent. In the second quarter of 2022 and 2023, the majority of federal student loans remained in forbearance, totaling over 1000 billion U.S. dollars. However, loan repayments and interest rates restarted in October 2023, lowering the amount of student loans in forbearance to **** billion U.S. dollars as of Q2 2024.

In 2024, the average student loan debt of graduates of Northwestern University, ranked as the 6th best college in the United States, amounted to 36,425 U.S. dollars. For students at Princeton University, classified as the best U.S. college in that year, they left college with student loan debt totaling 17,494 U.S. dollars on average.

Graph and download economic data for Federal Government; Consumer Credit, Student Loans; Asset, Level (FGCCSAQ027S) from Q4 1945 to Q1 2025 about student, IMA, consumer credit, federal, assets, loans, government, consumer, and USA.

As of Q4 2024, over *** million student loan borrowers in the United States had an outstanding student loan balance totaling over 200,000 U.S. dollars, while around *** million people had an outstanding student loan balance totaling between 5,000 to 10,000 U.S. dollars.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

In the academic year 2003/04, a total of 99.9 billion U.S. dollars was offered to students across the United States in the form of loans. By 2023/24, this amount had slightly decreased to 99 billion U.S. dollars. This amount peaked in 2010/11, when 159.2 billion U.S. dollars were provided in student loans.

The student loan debt collection market is experiencing significant growth, driven by the escalating burden of student loan debt globally. The increasing number of student loan borrowers defaulting on their payments fuels the demand for efficient and effective collection strategies. While precise market size figures are unavailable, considering a reasonable CAGR of 8% based on industry trends and the substantial volume of outstanding student loans, the market size in 2025 could be conservatively estimated at $15 billion USD. This growth is fueled by several key drivers, including technological advancements in debt collection (such as AI-powered analytics and automated communication tools), the increasing outsourcing of collection activities by educational institutions and government agencies, and a greater emphasis on regulatory compliance within the debt collection industry. The market is segmented by application (schools, banks, government, non-profits) and collection type (telephone, SMS, email, others). North America currently dominates the market due to the high level of student loan debt in the United States and Canada. However, growing student loan burdens in developing economies, particularly in Asia-Pacific, present lucrative opportunities for expansion. Despite significant growth potential, several restraints challenge the market. These include stringent regulations designed to protect borrowers from aggressive collection practices, increasing borrower awareness of their rights, and the ethical considerations surrounding debt collection in a sensitive area like student loans. The shift towards digital collection methods presents both opportunities and challenges, as institutions balance efficiency with protecting borrower data and maintaining ethical standards. Competition among collection agencies is fierce, requiring agencies to differentiate themselves through advanced technology, personalized communication strategies, and a commitment to ethical debt recovery. The future of the market hinges on the ability of collection agencies to adapt to evolving regulations, technological advancements, and borrower expectations while ensuring the ethical and responsible recovery of student loan debt.

United States HH Debt: Balance: Delinquent Loan: More Than 90 Days: Student Loan data was reported at 10.750 % in Mar 2020. This records a decrease from the previous number of 11.060 % for Dec 2019. United States HH Debt: Balance: Delinquent Loan: More Than 90 Days: Student Loan data is updated quarterly, averaging 8.960 % from Mar 2003 (Median) to Mar 2020, with 69 observations. The data reached an all-time high of 11.830 % in Sep 2013 and a record low of 6.032 % in Mar 2005. United States HH Debt: Balance: Delinquent Loan: More Than 90 Days: Student Loan data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.KB027: Household Debt.

United States HH Debt: Balance: New Seriously Delinquent Loan: Student Loan data was reported at 8.870 % in Mar 2020. This records a decrease from the previous number of 9.210 % for Dec 2019. United States HH Debt: Balance: New Seriously Delinquent Loan: Student Loan data is updated quarterly, averaging 8.873 % from Mar 2004 (Median) to Mar 2020, with 65 observations. The data reached an all-time high of 10.540 % in Mar 2013 and a record low of 5.397 % in Jun 2004. United States HH Debt: Balance: New Seriously Delinquent Loan: Student Loan data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.KB027: Household Debt.

The student loan debt recovery services market is experiencing robust growth, driven by the escalating burden of student loan debt globally. The increasing number of student loan defaults and the rising cost of higher education are primary catalysts for this expansion. While precise market sizing is unavailable from the provided data, a reasonable estimate based on observed trends in related financial services and the reported presence of numerous companies in the space suggests a 2025 market value exceeding $5 billion. This market's compound annual growth rate (CAGR) is likely in the range of 8-10%, projecting significant expansion through 2033. Key segments contributing to this growth include tuition fee loan recovery and living expense loan recovery services, particularly within the education, banking, and government sectors. North America and Europe currently hold significant market share, but emerging economies in Asia-Pacific and other regions present substantial untapped potential for growth, fueled by rising higher education enrollment and subsequent loan defaults. The market faces certain restraints, including stringent regulations surrounding debt collection practices and increasing consumer protection measures. However, the persistent issue of high student loan debt levels continues to drive demand for effective recovery services. The competitive landscape includes a mix of established players and specialized agencies offering diverse services tailored to different client needs. Successful firms are likely to be those that leverage advanced technologies such as AI and machine learning for efficient debt recovery, demonstrate compliance with regulatory frameworks, and provide flexible and empathetic solutions to borrowers. Focus on digital channels and personalized communication strategies also plays a crucial role in improving recovery rates and client satisfaction. Looking ahead, the market will continue to evolve with increasing sophistication in debt recovery techniques and a growing emphasis on ethical and transparent practices, ensuring sustainable growth and mitigating potential risks.

In 2022, students who graduated from Cornell University had an average student debt of ****** U.S. dollars, making them the most indebted class in the Ivy League. This is compared to Princeton University, where the average student debt was ****** U.S. dollars.

Household Debt: Student Loan data was reported at 1,407.000 USD bn in Mar 2018. This records an increase from the previous number of 1,378.000 USD bn for Dec 2017. Household Debt: Student Loan data is updated quarterly, averaging 778.200 USD bn from Mar 2003 (Median) to Mar 2018, with 61 observations. The data reached an all-time high of 1,407.000 USD bn in Mar 2018 and a record low of 240.700 USD bn in Mar 2003. Household Debt: Student Loan data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s USA – Table US.KA012: Household Debt.

Consumers in the United States had over **** trillion dollars in debt as of the first quarter of 2025. The majority of that debt were home mortgages, amounting to approximately **** trillion U.S. dollars. Student and car loans were the second and third largest component of household debt. Why is consumer debt important? Debt influences the Consumer Sentiment Index, which is an important indicator assessing the state of the U.S. economy. The U.S. housing market is also seen a bellwether of the economic conditions in the country. The housing industry employs a large number of people, and mortgages are large investments that consumers will pay off over the course of years, sometimes decades. Because of this, financial analysts closely watch consumer debt and its effects on the demand for housing. Attitudes towards debt Consumer perception of debt differed, depending on the kind of debt in question. While most saw a home mortgage as a positive investment, they increasingly looked at student loan debt as a negative debt. With education costs increasing, people are incurring more student loan debt in the United States. Credit card debt also had negative connotations.

Market Analysis for Educational Debt Recovery Services The global educational debt recovery services market is projected to reach XXX million by 2033, growing at a CAGR of XX% during 2025-2033. The rising student loan debt, coupled with the increasing number of students enrolling for higher education programs, is driving the market growth. Additionally, the surge in vocational and training courses, increased pressure on educational institutions to recover unpaid debts, and the proliferation of non-litigation collection methods are contributing to market expansion. Key market segments include non-litigation collection and litigation collection. The non-litigation collection segment holds a larger market share due to its cost-effectiveness, simplicity, and focus on customer relationships. Major companies in the market include STA International, Cedar Financial, Legal Recoveries, and S&S Recovery, Inc. Prominent regional markets include North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America currently dominates the market due to the high student loan debt in the United States. However, emerging markets such as Asia Pacific and Latin America are expected to witness significant growth in the coming years.

Graph and download economic data for Individual Income Tax Filing: Statutory Adjustments: Student Loan Interest Deduction (SLITDD) from 1999 to 2016 about deductions, student, individual, return, adjusted, tax, loans, interest, income, and USA.

As of 2020, ** percent of the general population in the United States had no student debt. Over *** percent held up to 25,000 U.S. dollars in debt from student loans.