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KEY TAKEAWAYS
- More than 6 million federal student loan borrowers are 24 years old or younger, with the average borrower in this group holding about $14,242 in student loans.
- As fewer high school graduates attend college, the number of borrowers in this age group has declined.
About 6.6 million federal student loan borrowers were 24 years or younger as of September 2025. These borrowers held about $94 billion in student loan debt, with the average borrower in this age group owing about $14,242, according to the most recent data from the Office of Federal Student Aid.
That average loan balance is lower than that of any other age group and is smaller than the $39,546 average debt held by all borrowers. It is important to note, however, that many borrowers in this age group are still in college and will likely take on additional student loans in the next few years.
For example, during the 2024-25 school year, 6.4 million students took out new federal student loans, averaging $9,457. If a college student who graduates in four years takes that amount in loans every academic year, they would hold more than $37,800 in student loans when they graduate.
Why This Matters
Paying off student loans can be very difficult for many borrowers. While each borrower’s situation and how much they need to borrow differs, seeing the average can help college students and recent graduates understand how what they’ve borrowed compares to others their age.
Over time, the number of borrowers in this age group has shrunk by about two million. In the second fiscal quarter of 2017, about 8.6 million borrowers were 24 or younger. The average amount of student loans held by this age group at that time was about $15,616.
This could, in part, be related to the decrease in enrollment numbers. Compared to the 2016-17 academic year, there were almost 750,000 fewer full-time undergraduate students during the 2023-24 academic year, according to the most recent data from the Department of Education.
In addition, more high school graduates have skipped college in recent years, citing high costs as the main deterrent. They’ve instead preferred to work straight out of school or acquire a certificate or license.
