The Burden of Student Loans

According to Bankrate, more than 43 million Americans hold federal loans, with a collective balance exceeding $1.7 trillion, the second largest type of consumer generated debt. The chart below shows the average federal student debt burden per borrower by state. The state with the highest average student debt burden is Maryland at $43,280, while the state with the smallest average student debt burden is North Dakota at $29,834.
The chart below shows the undergraduate enrollment change from Fall 2021 to Fall 2023 by gender and school type. The enrollment for women has dropped by -0.7% in the past two years. While men have a 1.7% change in enrollment for last two years. Public 4-year school had a -0.7% change in the last two years, as Public 2-Year enrollment was up 4.3%.
Furthermore, the chart below shows the enrollment changes by degree type and age from Fall 2021 to Fall 2023. Associate degrees had the largest enrollment change from Fall 2021 to Fall 2023, at 2.1%. While the age group of 25–29 had the largest decrease in enrollment changes for the same time frame at -8.7%.
For the school year of 2023-2024, the average tuition and fee price for a full time in state student at a public 4-year school is $11,260. That was $270 higher than it was in 2022-2023. Below is the inflation-adjusted tuition cost adjusted for inflation, according to College Board. The price of tuition has gone down in all school types resulting in a negative change in tuition.