average debt outstanding total
The total outstanding student loan debt in the U.S. is $1.2 trillion, thatâs the second-highest level of consumer debt behind only mortgages. Most of that is loans held by the federal government. About 40 million Americans hold student loans and about 70% of bachelorâs degree recipients graduate with debt. The class of 2015 graduated with $35,051 in student debt on average, according to Edvisors, a financial aid website, the most in history.