Average student loan debt in 2026​

Average student loan debt changes from year to year. Understanding the average student loan debt in 2026 can give you an idea of how you are doing. If your current student loan debt isn’t where you want it to be, learn how to manage it and when to refinance your student loans. 

If you are ready to alter your student loans to a payment method that better aligns with your financial goals, start a student loan refinance application*. 

What is the average student loan debt in 2026?

The average student loan debt in 2026 is $40,467 for only federal student loans, while the average student loan debt for federal and private student loans is around $43,521. The total U.S. student loan debt is $1.863 trillion, with 9.13% of the student loan debt being from private lenders. 

Average student loan debt by degree type

The average student loan debt that borrowers have can vary based on the degree study being funded through loans. ​ 

Average student loan debt by age

The student loan debt carried by age range varies. These are a few of the age groups and the average student loan debt they have. 

Strategies to manage and pay down student loan debt in 2026

Those looking to manage and help pay down their student loan debt in 2026 should consider insurance, Federal Repayment Assistance Plans and refinancing. 

Exploring Federal Repayment Assistance Plans (RAP) and refinancing

Applying for a Repayment Assistance Plan (RAP) and refinancing are two ways to help you manage your student loan payments.  

With RAP, borrowers with federal student loans will pay from 1% to 10% of their gross income minus specific IRS adjustments. Borrowers who are approved for RAP are eligible for loan forgiveness after 30 years. 

Refinancing student loans allows borrowers to rework their loan payments in ways that benefit their financial situations. When refinancing, borrowers could lower the rate or change the length of their loan repayment. Longer repayments could lower your monthly payments, while shorter repayments could finish your student loans quicker. If you choose to refinance your federal loans into a private student loan, you will lose the federal benefits offered. 

Looking to begin the process of refinancing your student loans? Start your application today.  

Using life and disability insurance to protect loan guarantors and family

If you have a loan guarantor or cosigner on your loan, having life and disability insurance can help prevent financial hardship in the event of misfortune or loss of income.  

In the case of death or disability and a loss of income, any guarantor could be left with the financial responsibility of paying the remaining student loan balance. Life insurance could help your family or cosigner pay off any remaining student loan debt, while disability insurance could help cover future monthly payments. 

_{*The student loan refinance marketplace is operated by FitBux, Inc., which facilitates connections to third-party Platform Partners (such as LendKey and Splash Financial) and their lending institutions. They may receive compensation when you complete a loan transaction. Rate and Fitbux are affiliated companies. The platform does not represent all available loan options. Product availability varies by state. Consult a qualified advisor before refinancing. Go to Rate.com for full terms and conditions.}  

_{Refinancing student loans to a lower monthly payment may increase the amount of interest you may pay. Refinancing to a shorter term my increase your monthly payment, but lower the total amount of interest you may pay.} 

_{Refinancing federal student loans into a private loan permanently eliminates access to federal benefits including income-driven repayment plans (SAVE, PAYE, IBR, ICR), Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, and federal deferment and forbearance. These benefits cannot be restored. Visit StudentAid.gov or contact your federal servicer before.}