The truth about student debt.
Real loan data from real borrowers. What people actually pay, what rates they actually have, and how you compare.
Total Outstanding Debt
$1.77T
43 million borrowers
Federal Reserve · Q4 2024
Average Borrower Balance
$37,338
Median monthly payment: $393/mo
Federal Reserve · 2024
In Income-Driven Repayment
45%
7% in default or delinquency
Dept. of Education · 2024
National Overview
Federal Reserve 2024Sources: Federal Reserve Consumer Finance Survey, U.S. Department of Education Federal Student Aid data, FRED. Macro data as of March 2026.
Federal Loan Rates — 2024-25 Academic Year
OfficialFederal student loan interest rates are set by Congress each year, tied to the 10-year Treasury yield plus a fixed add-on. These rates apply to loans disbursed between July 1, 2024 – June 30, 2025.
Private loan rates vary by lender, credit score, and whether rate is fixed or variable. Federal loans carry income-driven repayment and forgiveness protections that private loans do not.
Cost of Carrying Student Debt
10-year standard repaymentMonthly payment and total interest paid over a 10-year term at different balances and rates.
| Balance | 4% | 5.5% | 7% | 8.5% | 10% |
|---|---|---|---|---|---|
| $20K | $202/mo $4K interest | $217/mo $6K interest | $232/mo $8K interest | $248/mo $10K interest | $264/mo $12K interest |
| $40K | $405/mo $9K interest | $434/mo $12K interest | $464/mo $16K interest | $496/mo $20K interest | $529/mo $23K interest |
| $60K | $607/mo $13K interest | $651/mo $18K interest | $697/mo $24K interest | $744/mo $29K interest | $793/mo $35K interest |
| $80K | $810/mo $17K interest | $868/mo $24K interest | $929/mo $31K interest | $992/mo $39K interest | $1,057/mo $47K interest |
| $100K | $1,012/mo $21K interest | $1,085/mo $30K interest | $1,161/mo $39K interest | $1,240/mo $49K interest | $1,322/mo $59K interest |
Monthly payment assumes standard 10-year term (120 payments). Total interest is the cost above principal. Income-driven plans lower monthly payments but extend the term and increase total interest unless forgiven.
Current Rate Environment
Federal student loan rates are fixed for the life of the loan when disbursed. Rates are reset each academic year based on May's 10-year Treasury auction. Unlike mortgages or credit cards, your existing federal loans are unaffected by Fed rate changes.
How do your loans compare?
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See if your balance, rate, and payment are normal for someone in your situation.
See how my loans compare →Public Service Loan Forgiveness
Who qualifies: Government, nonprofit (501c3), education, healthcare, and military employees with federal Direct Loans on an income-driven repayment plan.
How it works: 120 qualifying payments (10 years) while working full-time in public service → remaining balance forgiven, tax-free.
Reality check: ~48% of applications are ultimately approved. Keeping detailed payment records and using MOHELA (the official PSLF servicer) matters.
Income-Driven Repayment Plans
5–10% of discretionary income
10% of discretionary income
10–15% of discretionary income
20% of discretionary income
Note: Forgiven amounts under IDR (not PSLF) may be taxable as income in the year of forgiveness.
Data sources
Federal Reserve Consumer Finance Survey, U.S. Department of Education Federal Student Aid, FRED macro data (FEDFUNDS, UNRATE). Federal loan rates from studentaid.gov. Community submissions growing.