Student Loan Debt: Which Age Group Has the Largest Balances?

(NewsNation— Student loan debt is frequently considered a concern for young individuals, yet millions of Americans approaching retirement age still have tens of thousands of dollars in outstanding loans.

The age group between 50 and 61 has the highest average loan amount, totaling $48,203, as reported recently.Federal Student Aid data. Over 3.6 million borrowers, more than half, still have balances of $20,000 or higher.

The data illustrates the number of Generation X individuals—commonly known as the “forgotten generation”—who are reaching their retirement years while still dealing with student loan obligations. It also reveals how years of compounding interest increase the challenge of reducing these balances.

For individuals who have had difficulty making payments, particularly those already in default, the pressure may soon intensify. The Trump administration hasannounced plansto restart wage garnishment, ending a pause on the process during the pandemic.

By the end of September, U.S. citizens had accumulated roughly $1.7 trillion in student debt, a figure that has more than tripled from the $516 billion recorded in 2007.

Which demographic has the largest student debt amounts?

Approximately 6.4 million individuals between the ages of 50 and 61 have accumulated over $308 billion in federal student loan debt, as reported byFederal Student Aid dataTheir average balance is $48,203, which exceeds three times the amount owed by borrowers under 24, who have an average debt of $14,242.

Senior citizens, individuals over the age of 50, are also more prone to being significantly overdue (90 days or more past due), as indicated by additional data from theFederal Reserve Bank of New York.

Borrowers aged 35 to 49, on the other hand, have the second-highest average balances among all age groups, totaling $45,295. As a group, they also have the highest amount of federal student loan debt — approximately $675 billion among around 15 million borrowers.

Average loan amount per borrower, by age (As of September 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 have the highest amount of student loan debt?

Washington, D.C., holds the top average student loan balance in the country at $55,794 per borrower, according to federal statistics. This isn’t entirely unexpected: The nation’s capital is themost educated regionin the nation and is at the forefront regarding residents holding higher education degrees.

Maryland and Virginia, located nearby, are also in the top five, with average balances exceeding $40,000.

Georgia ($43,273) and Florida ($40,692) complete the list of states with the highest average balances, even though they are ranked lower.closer to the middle nationally on educational attainment.

Average loan amount per borrower, by region (as of September 30, 2025)

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

What is the number of borrowers with outstanding balances exceeding $100K?

Over 70% of student loan borrowers have balances under $40,000, according to government statistics.

Nevertheless, an increasing portion of borrowers have substantial debt. Approximately 3.8 million borrowers now have $100,000 or more in student loan debt — a nearly 60% rise since 2017. Almost a third of these borrowers, around 1.2 million, have debts exceeding $200,000.

Individuals who hold advanced degrees are significantly more prone to have student loan debts exceeding $100,000, as reported by thePew Research Center. 

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