This is an increase of approximately 20% from 2015-2016. Updated: Jan. 15, 2020. Americans also now owe more than $1.53 trillion in student loan debt, with the average student loan debt amount of $37,172 and monthly payment of $393 based on the most current figures available to Nitro. The mounting student debt crisis—about $1.56 trillion dollars in total—is causing graduates to delay major life events like purchasing a home or starting a family, and significantly affecting loan co-signers like parents and grandparents. That group’s share of the debt has skyrocketed from $8 billion to $67 billion and many are having loan payments deducted from their Social Security … Student loans are the second-biggest kind of debt in America behind home mortgages and often more expensive to service relative to the amount owed because interest rates are generally higher. Young, gifted and in the red Student debt in America amounts to over $1.5trn. The total amount of student loan debt is $1.47 trillion as of the end of 2018 — more than credit cards or auto loans. Q&A: what you need to know about America's student debt crisis. Mike Bloomberg is the latest politician to promise to tackle the problem. The cost of a degree—and the “open future” that supposedly comes with it—has become one of the defining forces of middle-class life. At an average of $37,000, student debt in America is high, but it is higher in the UK where the average is … The average college debt among student loan borrowers in America is $32,731, according to the Federal Reserve. In 2017, the total U.S. student debt topped $1.48 trillion and is tracking to surpass $1.57 trillion in 2019. John Letzing Digital Editor, Strategic Intelligence, World Economic Forum. Student loan debt has soared from $260 billion in 2004 to $1.4 trillion in 2017; average debt jumped from $18,650 to $38,000 over that same period; and the number of people over 60 with student loan debt has quadrupled in the last decade from 700,000 to 2.8 million. 25 startling facts about the state of student debt in America Student debt in America is a major source of stress for millions of borrowers and countless prospective students. As the size of student debt owed has increased, so have monthly payments. Student debt in America is a major source of stress for millions of borrowers and countless prospective students. Student loan debt has soared from $260 billion in 2004 to $1.4 trillion in 2017; average debt jumped from $18,650 to $38,000 over that same period; and the number of people over 60 with student loan debt has quadrupled in the last decade from 700,000 to 2.8 million. Most Americans with student debt are young. America’s student debt crisis explained . Most borrowers have between $25,000 and $50,000 outstanding in student loan debt. As of 2020, 1 in 4 Americans have student loan debt, which is an est. Student Debt Is Transforming the American Family.