In 2023, 51 percent of undergraduate students from families with an income of over 150,000 U.S. dollars borrowed money alone to cover their college education costs in the United States. Meanwhile, 63 percent of students from families with an income of under 50,000 U.S. dollars financed their college on their own.
Share of families using loans for their college education costs in the United States in 2023, by income
The figures refer to families loans, as well as other types of credit or borrowed money.
* Sample:
313 with an income of less than 50,000 U.S. dollars
385 with income between 50,000 and 100,000 U.S. dollars
139 with income between 100,000 and 150,000 U.S. dollars
110 with income of 150,000 U.S. dollars and higher.
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Sallie Mae. (August 1, 2023). Share of families using loans for their college education costs in the United States in 2023, by income [Graph]. In Statista. Retrieved January 02, 2025, from https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/
Sallie Mae. "Share of families using loans for their college education costs in the United States in 2023, by income." Chart. August 1, 2023. Statista. Accessed January 02, 2025. https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/
Sallie Mae. (2023). Share of families using loans for their college education costs in the United States in 2023, by income. Statista. Statista Inc.. Accessed: January 02, 2025. https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/
Sallie Mae. "Share of Families Using Loans for Their College Education Costs in The United States in 2023, by Income." Statista, Statista Inc., 1 Aug 2023, https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/
Sallie Mae, Share of families using loans for their college education costs in the United States in 2023, by income Statista, https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/ (last visited January 02, 2025)
Share of families using loans for their college education costs in the United States in 2023, by income [Graph], Sallie Mae, August 1, 2023. [Online]. Available: https://www.statista.com/statistics/1298504/share-of-families-using-loans-for-their-college-costs-usa-by-income/
