WASHINGTON, D.C. —

Americans under the age of 40 owe more than half of all student loan debt in the U.S., according to data from the Federal Reserve Bank of New York.

Adults aged 30 to 39 held the most debt of any age group in 2024, accounting for approximately 33% of the total debt, which amounted to $524.5 billion. Their younger counterparts, ages 18 to 29, owed $330.8 billion that same year. Advertisement

Related video above: Social services, loans, and more to be impacted by government shutdown

Adults under 40 carry the most debt largely because they have higher college enrollment rates than other age groups, according to the Pew Research Center.

Overall student loan debt in the U.S. totaled $1.6 trillion at the end of 2024. Balances are measured as of Dec. 31 each year.

As of J

See Full Page