How Much Student Loan Debt Is There?

How Much Student Loan Debt Is There?

Student loan debt has become a pressing issue in many countries around the world, including the United States. With the rising cost of education and the increasing number of students pursuing higher education, the amount of student loan debt has reached staggering levels. This has led to concerns about the long-term financial stability of individuals and the overall impact on the economy.

According to recent statistics, the total student loan debt in the United States has surpassed $1.7 trillion, making it the second-largest category of consumer debt after mortgages. This astronomical figure highlights the immense burden that many students and graduates are carrying. It is estimated that around 45 million Americans have student loan debt, with an average balance of over $37,000.

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Dave Pennells

By Dave Pennells

Dave Pennells, MS, has contributed his expertise as a career consultant and training specialist across various fields for over 15 years. At City University of Seattle, he offers personal career counseling and conducts workshops focused on practical job search techniques, resume creation, and interview skills. With a Master of Science in Counseling, Pennells specializes in career consulting, conducting career assessments, guiding career transitions, and providing outplacement services. Her professional experience spans multiple sectors, including banking, retail, airlines, non-profit organizations, and the aerospace industry. Additionally, since 2001, he has been actively involved with the Career Development Association of Australia.