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Student Loans in the U.S.
As of 30th September 2020, total outstanding student loans stood at $1,566.3 billions(out of 42.9 millions borrowers), an increase of $21.5 billions or 1.39% compares to $1,544.8 billions(out of 42.3 millions borrowers) as at 30th June 2020.
14.2 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $601.7 billions. Group between the age of 25 to 34 has the highest number of borrowers, 14.8 millions, with $500.5 billions outstanding student loans.
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Why Refinance Your Student Loans With Splash?
Splash Financial loans are funded by banks and credit unions to ensure market leading rates. This allows Splash Financial to offer amazing benefits such as:
Market Leading Rates
Variable rates start at 1.99% APR and Fixed rates start at 3.48% APR.
95% Customer Satisfaction
Through our lenders you'll be able to refinance student loans, both federal and private, including graduate loans, into one convenient loan at a great rate.
No Origination Fees
Our seamless online experience takes the hassle out of refinancing.
Customer Service
Real people means real concierge service to help you every step of the way.
Non-cosigned loan options
Build credit in your own name if you qualify, or you can apply to release your cosigner after 24 consecutive on-time payments.
Flexible payment options
Choose from affordable fixed or variable rates, customize your repayment terms, and pay off your loan early without any penalty.
Benefits that put you first
Cover up to 100% of your cost of attendance. Plus, you can get 1% cash back and a discount if you set up automatic payments.
Lower Your Payments
You can reduce your interest rate, lower your monthly payments, and save thousands over the lifetime of your loan when you refinance student loans.
Simplify Your Finances
Through our lenders you'll be able to refinance student loans, both federal and private, including graduate loans, into one convenient loan at a great rate.
No Origination Fees
When you refinance student loans through us, our community lenders won't charge you any origination fees.
Flexible Options
Many of our student loan refinance lenders offer various repayment options, including interest-only payments for the first four years.
Origination fee
We make sure our partners do not charge loan origination fees on their loans.
Service fee
Credible is 100% free to use and our customer support is always here to help.
Prepayment penalty
There’s no prepayment penalty if you’d like to pay off your loans faster.
Quarterly Outstanding Student Loans in the U.S. 2020
As of 31st March 2020, total outstanding student loans stood at $1,542.7 billions(out of 42.6 millions borrowers), an increase of $27.7 billions or 1.83% compares to $1,515.0 billions(out of 42.8 millions borrowers) as at 31st December 2019.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $589.8 billions. Group between the age of 25 to 34 has the highest number of borrowers, 14.8 millions, with $500.1 billions outstanding student loans.
The total $1,542.7 billions outstanding student loans can be further broken down as:-
$1,284.7 billions outstanding Direct Loans(out of 35.3 millions borrowers), an increase of $32.8 billions or 2.62% compares to $1,251.9 billions(out of 35.3 millions borrowers) as at 31st December 2019.
$252.4 billions outstanding Federal Family Education Loans-FFEL(out of 11.5 millions borrowers), a decrease of $4.8 billions or 1.87% compares to $257.2 billions(out of 11.8 millions borrowers) as at 31st December 2019.
$5.6 billions outstanding Perkins Loans(out of 1.9 millions borrowers), a decrease of $0.3 billions or 5.08% compares to $5.9 billions(out of 1.9 millions borrowers) as at 31st December 2019.
As of 30th June 2020, total outstanding student loans stood at $1,544.8 billions(out of 42.3 millions borrowers), an increase of $2.1 billions or 0.14% compares to $1,542.7 billions(out of 42.6 millions borrowers) as at 31st March 2020.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $594.5 billions. Group between the age of 25 to 34 has the highest number of borrowers, 14.8 millions, with $498.0 billions outstanding student loans.
The total $1,544.8 billions outstanding student loans can be further broken down as:-
$1,290.6 billions outstanding Direct Loans(out of 35.2 millions borrowers), an increase of $5.9 billions or 0.46% compares to $1,284.7 billions(out of 35.3 millions borrowers) as at 31st March 2020.
$248.7 billions outstanding Federal Family Education Loans-FFEL(out of 11.2 millions borrowers), a decrease of $3.7 billions or 1.47% compares to $252.4 billions(out of 11.5 millions borrowers) as at 31st March 2020.
$5.4 billions outstanding Perkins Loans(out of 1.8 millions borrowers), a decrease of $0.2 billions or 3.57% compares to $5.6 billions(out of 1.9 millions borrowers) as at 31st March 2020.
The total $1,566.3 billions outstanding student loans can be further broken down as:-
$1,315.2 billions outstanding Direct Loans(out of 35.9 millions borrowers), an increase of $24.6 billions or 1.91% compares to $1,290.6 billions(out of 35.2 millions borrowers) as at 30th June 2020.
$245.9 billions outstanding Federal Family Education Loans-FFEL(out of 11.0 millions borrowers), a decrease of $2.8 billions or 1.13% compares to $248.7 billions(out of 11.2 millions borrowers) as at 30th June 2020.
$5.2 billions outstanding Perkins Loans(out of 1.7 millions borrowers), a decrease of $0.2 billions or 3.70% compares to $5.4 billions(out of 1.8 millions borrowers) as at 30th June 2020.
Yearly Outstanding Student Loans in the U.S. 2015 - 2019
As of 31st December 2019, total outstanding student loans stood at $1,515.0 billions(out of 42.8 millions borrowers), an increase of $67.9 billions or 4.69% compares to $1,447.1 billions(out of 43.0 millions borrowers) as at 31st December 2018.
The total $1,515.0 billions outstanding student loans can be further broken down as:-
$1,251.9 billions outstanding Direct Loans(out of 35.3 millions borrowers), an increase of $88.6 billions or 7.62% compares to $1,163.3 billions(out of 34.5 millions borrowers) as at 31st December 2018.
$257.2 billions outstanding Federal Family Education Loans-FFEL(out of 11.8 millions borrowers), a decrease of $19.8 billions or 7.15% compares to $277.0 billions(out of 13.1 millions borrowers) as at 31st December 2018.
$5.9 billions outstanding Perkins Loans(out of 1.9 millions borrowers), a decrease of $1.0 billions or 14.49% compares to $6.9 billions(out of 2.2 millions borrowers) as at 31st December 2018.
As of 31st December 2018, total outstanding student loans stood at $1,447.1 billions(out of 43.0 millions borrowers), an increase of $71.6 billions or 5.21% compares to $1,375.5 billions(out of 42.8 millions borrowers) as at 31st December 2017.
The total $1,447.1 billions outstanding student loans can be further broken down as:-
$1,163.3 billions outstanding Direct Loans(out of 34.5 millions borrowers), an increase of $96.5 billions or 9.05% compares to $1,066.8 billions(out of 33.3 millions borrowers) as at 31st December 2017.
$277.0 billions outstanding Federal Family Education Loans-FFEL(out of 13.1 millions borrowers), a decrease of $24.1 billions or 8.00% compares to $301.1 billions(out of 14.5 millions borrowers) as at 31st December 2017.
$6.9 billions outstanding Perkins Loans(out of 2.2 millions borrowers), a decrease of $0.7 billions or 9.21% compares to $7.6 billions(out of 2.5 millions borrowers) as at 31st December 2016.
As of 31st December 2017, total outstanding student loans stood at $1,375.5 billions(out of 42.8 millions borrowers), an increase of $75.8 billions or 5.83% compares to $1,299.7 billions(out of 42.4 millions borrowers) as at 31st December 2017.
The total $1,375.5 billions outstanding student loans can be further broken down as:-
$1,066.8 billions outstanding Direct Loans(out of 33.3 millions borrowers), an increase of $103.3 billions or 10.72% compares to $963.5 billions(out of 31.9 millions borrowers) as at 31st December 2016.
$301.1 billions outstanding Federal Family Education Loans-FFEL(out of 14.5 millions borrowers), a decrease of $27.2 billions or 8.29% compares to $328.3 billions(out of 16.1 millions borrowers) as at 31st December 2016.
$7.6 billions outstanding Perkins Loans(out of 2.5 millions borrowers), a decrease of $0.3 billions or 3.80% compares to $7.9 billions(out of 2.7 millions borrowers) as at 31st December 2016.
As of 31st December 2016, total outstanding student loans stood at $1,299.7 billions(out of 42.4 millions borrowers), an increase of $79.4 billions or 6.51% compares to $1,220.3 billions(out of 41.8 millions borrowers) as at 31st December 2015.
The total $1,299.7 billions outstanding student loans can be further broken down as:-
$963.5 billions outstanding Direct Loans(out of 31.9 millions borrowers), an increase of $108.7 billions or 12.72% compares to $854.8 billions(out of 30.3 millions borrowers) as at 31st December 2015.
$328.3 billions outstanding Federal Family Education Loans-FFEL(out of 16.1 millions borrowers), a decrease of $29.0 billions or 8.12% compares to $357.3 billions(out of 17.5 millions borrowers) as at 31st December 2015.
$7.9 billions outstanding Perkins Loans(out of 2.7 millions borrowers), a decrease of $0.2 billions or 2.47% compares to $8.1 billions(out of 2.9 millions borrowers) as at 31st December 2015.
Quarterly Outstanding Student Loans in the U.S. 2019
As of 31st March 2019, total outstanding student loans stood at $1,476.6 billions(out of 42.8 millions borrowers), an increase of $29.5 billions or 2.04% compares to $1,447.1 billions(out of 43.0 millions borrowers) as at 31st December 2018.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $557.6 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.1 millions, with $497.6 billions outstanding student loans.
The total $1,476.6 billions outstanding student loans can be further broken down as:-
$1,198.4 billions outstanding Direct Loans(out of 34.5 millions borrowers), an increase of $35.1 billions or 3.02% compares to $1,163.3 billions(out of 34.5 millions borrowers) as at 31st December 2018.
$271.6 billions outstanding Federal Family Education Loans-FFEL(out of 12.8 millions borrowers), a decrease of $5.4 billions or 1.95% compares to $277.0 billions(out of 13.1 millions borrowers) as at 31st December 2018.
$6.6 billions outstanding Perkins Loans(out of 2.2 millions borrowers), a decrease of $0.3 billions or 4.35% compares to $6.9 billions(out of 2.2 millions borrowers) as at 31st December 2018.
As of 30th June 2019, total outstanding student loans stood at $1,481.1 billions(out of 42.2 millions borrowers), an increase of $4.5 billions or 0.30% compares to $1,476.6 billions(out of 42.8 millions borrowers) as at 31st March 2019.
14.0 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $564.0 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.0 millions, with $497.0 billions outstanding student loans.
The total $1,476.6 billions outstanding student loans can be further broken down as:-
$1,208.8 billions outstanding Direct Loans(out of 34.3 millions borrowers), an increase of $10.4 billions or 0.87% compares to $1,198.4 billions(out of 34.5 millions borrowers) as at 31st March 2019.
$266.0 billions outstanding Federal Family Education Loans-FFEL(out of 12.4 millions borrowers), a decrease of $5.6 billions or 2.06% compares to $271.6 billions(out of 12.8 millions borrowers) as at 31st March 2019.
$6.3 billions outstanding Perkins Loans(out of 2.1 millions borrowers), a decrease of $0.3 billions or 4.55% compares to $6.6 billions(out of 2.2 millions borrowers) as at 31st March 2019.
As of 30th September 2019, total outstanding student loans stood at $1,510.3 billions(out of 42.9 millions borrowers), an increase of $29.2 billions or 1.97% compares to $1,481.1 billions(out of 42.2 millions borrowers) as at 30th June 2019.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $575.5 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.0 millions, with $501.5 billions outstanding student loans.
The total $1,510.3 billions outstanding student loans can be further broken down as:-
$1,242.6 billions outstanding Direct Loans(out of 35.1 millions borrowers), an increase of $33.8 billions or 2.80% compares to $1,208.8 billions(out of 34.3 millions borrowers) as at 30th June 2019.
$261.6 billions outstanding Federal Family Education Loans-FFEL(out of 12.1 millions borrowers), a decrease of $4.4 billions or 1.65% compares to $266.0 billions(out of 12.4 millions borrowers) as at 30th June 2019.
$6.1 billions outstanding Perkins Loans(out of 2.0 millions borrowers), a decrease of $0.2 billions or 3.17% compares to $6.3 billions(out of 2.1 millions borrowers) as at 30th June 2019.
As of 31st December 2019, total outstanding student loans stood at $1,515.0 billions(out of 42.8 millions borrowers), an increase of $4.7 billions or 0.31% compares to $1,510.3 billions(out of 42.9 millions borrowers) as at 30th September 2019.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $581.2 billions. Group between the age of 25 to 34 has the highest number of borrowers, 14.9 millions, with $498.1 billions outstanding student loans.
The total $1,515.0 billions outstanding student loans can be further broken down as:-
$1,251.9 billions outstanding Direct Loans(out of 35.3 millions borrowers), an increase of $9.3 billions or 0.75% compares to $1,242.6 billions(out of 35.1 millions borrowers) as at 30th September 2019.
$257.2 billions outstanding Federal Family Education Loans-FFEL(out of 11.8 millions borrowers), a decrease of $4.4 billions or 1.68% compares to $261.6 billions(out of 12.1 millions borrowers) as at 30th September 2019.
$5.9 billions outstanding Perkins Loans(out of 1.9 millions borrowers), a decrease of $0.2 billions or 3.28% compares to $6.1 billions(out of 2.0 millions borrowers) as at 30th September 2019.
Quarterly Outstanding Student Loans in the U.S. 2018
As of 31st March 2018, total outstanding student loans stood at $1,407.1 billions(out of 42.6 millions borrowers), an increase of $31.6 billions or 2.30% compares to $1,375.5 billions(out of 42.8 millions borrowers) as at 31st December 2017.
13.8 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $522.4 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.2 millions, with $488.6 billions outstanding student loans.
The total $1,407.1 billions outstanding student loans can be further broken down as:-
$1,104.0 billions outstanding Direct Loans(out of 33.4 millions borrowers), an increase of $37.2 billions or 3.49% compares to $1,066.8 billions(out of 33.3 millions borrowers) as at 31st December 2017.
$295.5 billions outstanding Federal Family Education Loans-FFEL(out of 14.2 millions borrowers), a decrease of $5.6 billions or 1.86% compares to $301.1 billions(out of 14.5 millions borrowers) as at 31st December 2017.
$7.6 billions outstanding Perkins Loans(out of 2.5 millions borrowers), similar to outstanding Perkins Loans as at 31st December 2017.
As of 30th June 2018, total outstanding student loans stood at $1,412.0 billions(out of 42.2 millions borrowers), an increase of $4.9 billions or 0.35% compares to $1,407.1 billions(out of 42.6 millions borrowers) as at 31st March 2018.
13.8 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $529.6 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.1 millions, with $489.0 billions outstanding student loans.
The total $1,412.0 billions outstanding student loans can be further broken down as:-
$1,116.0 billions outstanding Direct Loans(out of 33.3 millions borrowers), an increase of $12.0 billions or 1.09% compares to $1,104.0 billions(out of 33.4 millions borrowers) as at 31st March 2018.
$288.6 billions outstanding Federal Family Education Loans-FFEL(out of 13.8 millions borrowers), a decrease of $6.9 billions or 2.34% compares to $295.5 billions(out of 14.2 millions borrowers) as at 31st March 2018.
$7.4 billions outstanding Perkins Loans(out of 2.4 millions borrowers), a decrease of $0.2 billions or 2.63% compares to $7.6 billions(out of 2.5 millions borrowers) as at 31st March 2018.
As of 30th September 2018, total outstanding student loans stood at $1,439.2 billions(out of 42.9 millions borrowers), an increase of $27.2 billions or 1.93% compares to $1,412.0 billions(out of 42.2 millions borrowers) as at 30th June 2018.
14.0 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $540.3 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.2 millions, with $494.8 billions outstanding student loans.
The total $1,439.2 billions outstanding student loans can be further broken down as:-
$1,150.3 billions outstanding Direct Loans(out of 34.2 millions borrowers), an increase of $34.3 billions or 3.07% compares to $1,116.0 billions(out of 33.3 millions borrowers) as at 30th June 2018.
$281.8 billions outstanding Federal Family Education Loans-FFEL(out of 13.5 millions borrowers), a decrease of $6.8 billions or 2.36% compares to $288.6 billions(out of 13.8 millions borrowers) as at 30th June 2018.
$7.1 billions outstanding Perkins Loans(out of 2.3 millions borrowers), a decrease of $0.3 billions or 4.05% compares to $7.4 billions(out of 2.4 millions borrowers) as at 30th June 2018.
As of 31st December 2018, total outstanding student loans stood at $1,447.1 billions(out of 43.0 millions borrowers), an increase of $7.9 billions or 0.55% compares to $1,439.2 billions(out of 42.9 millions borrowers) as at 30th September 2018.
14.1 millions borrowers between the age of 35 to 49 has the highest outstanding student loans, stood at $548.4 billions. Group between the age of 25 to 34 has the highest number of borrowers, 15.2 millions, with $494.2 billions outstanding student loans.
The total $1,447.1 billions outstanding student loans can be further broken down as:-
$1,163.3 billions outstanding Direct Loans(out of 34.5 millions borrowers), an increase of $13.0 billions or 1.13% compares to $1,150.3 billions(out of 34.2 millions borrowers) as at 30th September 2018.
$277.0 billions outstanding Federal Family Education Loans-FFEL(out of 13.1 millions borrowers), a decrease of $4.8 billions or 1.70% compares to $281.8 billions(out of 13.5 millions borrowers) as at 30th September 2018.
$6.9 billions outstanding Perkins Loans(out of 2.2 millions borrowers), a decrease of $0.2 billions or 2.82% compares to $7.1 billions(out of 2.3 millions borrowers) as at 30th September 2018.
Yearly Outstanding Student Loans in the U.S. 2015 - 2018
As of 31st December 2018, total outstanding student loans stood at $1,447.1 billions(out of 43.0 millions borrowers), an increase of $71.6 billions or 5.21% compares to $1,375.5 billions(out of 42.8 millions borrowers) as at 31st December 2017.
The total $1,447.1 billions outstanding student loans can be further broken down as:-
$1,163.3 billions outstanding Direct Loans(out of 34.5 millions borrowers), an increase of $96.5 billions or 9.05% compares to $1,066.8 billions(out of 33.3 millions borrowers) as at 31st December 2016.
$277.0 billions outstanding Federal Family Education Loans-FFEL(out of 13.1 millions borrowers), a decrease of $24.1 billions or 8.00% compares to $301.1 billions(out of 14.5 millions borrowers) as at 31st December 2016.
$6.9 billions outstanding Perkins Loans(out of 2.2 millions borrowers), a decrease of $0.7 billions or 9.21% compares to $7.6 billions(out of 2.5 millions borrowers) as at 31st December 2016.
As of 31st December 2017, total outstanding student loans stood at $1,375.5 billions(out of 42.8 millions borrowers), an increase of $75.8 billions or 5.83% compares to $1,299.7 billions(out of 42.4 millions borrowers) as at 31st December 2016.
The total $1,375.5 billions outstanding student loans can be further broken down as:-
$1,066.8 billions outstanding Direct Loans(out of 33.3 millions borrowers), an increase of $103.3 billions or 10.72% compares to $963.5 billions(out of 31.9 millions borrowers) as at 31st December 2016.
$301.1 billions outstanding Federal Family Education Loans-FFEL(out of 14.5 millions borrowers), a decrease of $27.2 billions or 8.29% compares to $328.3 billions(out of 16.1 millions borrowers) as at 31st December 2016.
$7.6 billions outstanding Perkins Loans(out of 2.5 millions borrowers), a decrease of $0.3 billions or 3.80% compares to $7.9 billions(out of 2.7 millions borrowers) as at 31st December 2016.
As of 31st December 2016, total outstanding student loans stood at $1,299.7 billions(out of 42.4 millions borrowers), an increase of $79.4 billions or 6.51% compares to $1,220.3 billions(out of 41.8 millions borrowers) as at 31st December 2015.
The total $1,299.7 billions outstanding student loans can be further broken down as:-
$963.5 billions outstanding Direct Loans(out of 31.9 millions borrowers), an increase of $108.7 billions or 12.72% compares to $854.8 billions(out of 30.3 millions borrowers) as at 31st December 2015.
$328.3 billions outstanding Federal Family Education Loans-FFEL(out of 16.1 millions borrowers), a decrease of $29.0 billions or 8.12% compares to $357.3 billions(out of 17.5 millions borrowers) as at 31st December 2015.
$7.9 billions outstanding Perkins Loans(out of 2.7 millions borrowers), a decrease of $0.2 billions or 2.47% compares to $8.1 billions(out of 2.9 millions borrowers) as at 31st December 2015.