Discover Which Age Group Bears the Heaviest Student Loan Burden

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For many, student loan debt is commonly thought of as an issue affecting young adults, yet a significant number of Americans approaching retirement are also grappling with substantial loan balances.

Data from the Federal Student Aid shows that individuals aged 50 to 61 carry the highest average student loan debt, amounting to $48,203. Within this group, over half—approximately 3.6 million borrowers—are still saddled with debts exceeding $20,000.

This data underscores a significant challenge facing Generation X, often dubbed the “forgotten generation,” as they approach retirement age still encumbered by student loans. The accumulation of interest over the years has compounded their financial strain, making it increasingly difficult to reduce their debt.

In a development that could intensify financial pressures, the Trump administration has revealed plans to reinstate wage garnishment for student loan payments early next year, ending the temporary suspension that was put in place during the pandemic. This move is likely to impact borrowers who have struggled to meet their payment obligations, particularly those in default.

As of the end of September, Americans owed about $1.7 trillion in student loans, more than triple the $516 billion outstanding in 2007.

Which age group carries the highest student loan balances?

Some 6.4 million borrowers aged 50 to 61 owe more than $308 billion in federal student loan debt, according to Federal Student Aid data. Their average balance, $48,203, is more than three times that of borrowers 24 and younger, who owe an average of $14,242.

Older Americans, those over 50, are also more likely to be seriously delinquent (90-plus days past due), according to separate data from the Federal Reserve Bank of New York.

Borrowers ages 35 to 49, meanwhile, carry the second-highest average balances of any age group at $45,295. As a cohort, they also hold the most federal student loan debt overall — about $675 billion spread across roughly 15 million borrowers.

Average debt per borrower, by age (As of Sept. 30, 2025)

24 and younger: $14,242
25-34: $33,566
35-49: $45,295
50-61: $48,203
62 and older: $44,161

Where do borrowers carry the most student loan debt?

Washington, D.C., has the highest average student loan balance in the nation at $55,794 per borrower, federal data shows. That’s not entirely surprising: The nation’s capital is the most educated region in the country and leads when it comes to residents with advanced degrees.

Nearby Maryland and Virginia also rank among the top five, with average balances above $40,000.

Georgia ($43,273) and Florida ($40,692) round out the list of states with the highest average balances, despite ranking closer to the middle nationally on educational attainment.

Average debt per borrower, by location (as of Sept. 30, 2025)

Washington, D.C.: $55,794
Maryland: $45,123
Georgia: $43,273
Virginia: $41,447
Florida: $40,692

How many borrowers carry $100K+ balances?

Most student loan borrowers owe less than $40,000: more than 70% fall below that threshold, federal data shows.

Still, a growing share owes far more. Roughly 3.8 million borrowers now carry $100,000 or more in student loan debt — a nearly 60% increase from 2017. Nearly a third of those borrowers, about 1.2 million, owe $200,000 or more.

Those with postgraduate degrees are far more likely to carry six-figure student loan balances, according to the Pew Research Center.