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Comment by sacred_numbers | Hacker News Reader

According to this source[1], the average student loan debt for a new 4-year graduate in 2020 is $28,400. Of course, this is highly variable depending on the student, but $150-200k is not typical for a 4-year degree.

[1]: https://www.credible.com/blog/statistics/average-student-loa...

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That feels low to me. I dropped out after half a year at a state college and had to pay $20k. I do not believe those numbers.

https://www.nerdwallet.com/article/loans/student-loans/stude...

There seems to be a bunch of variability here. In support of my original assertion of 150-200k, that site has multiple average debts for different fields in my stated range.

Actually, the article you linked confirms my original statement. Look at the "graduate loan debt" section.

From the article you linked: Average student loan debt for a professional degree from a private, nonprofit institution $243,300

I have no idea how they got 28k when most every number I see on that page is much larger.

There is a huge, huge difference between the debt you take on in undergrad vs grad programs vs law school vs medical school, etc. You are looking at the numbers for the most expensive programs (that also result in some of the highest paying careers!) to make the case that people have high debt, but those are the minority. They also tend to be the most educated and have the highest future earnings potential. Most people do not advance past an undergraduate degree. The 28k number is far more relevant, and within the article you linked.

I don't know what to believe anymore

Your page says the same number as the parent for a bachelor degree: $28950.

All the other numbers you see that are higher are graduate degrees. Comparing a medical student debt (4+ years more of school beyond the 4 of undergrad, residency, perhaps a specialty on top) to only a 4 year degree is not representative of the vast majority of student debt.

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