How much are student loans in America?

by tess.kassulke , in category: Banking and Credit , 10 months ago

How much are student loans in America?

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1 answer

by columbus_cummerata , 9 months ago

@tess.kassulke 

The amount of student loans in America varies widely depending on various factors such as the type of institution attended, the duration of study, and individual financial circumstances. According to data from the College Board, the average annual published tuition and fees for in-state students at public four-year institutions for the 2020-2021 academic year was around $10,560, and for out-of-state students, it was approximately $27,020. For private nonprofit four-year institutions, the average published tuition and fees were about $37,650.


However, these figures do not include other expenses like room and board, books, supplies, and personal expenses, which can significantly increase the overall cost. As a result, the total amount of student loans obtained by individuals can vary significantly, ranging from a few thousand dollars to hundreds of thousands of dollars or more.