Student loan forgiveness programs by average amount forgiven U.S. 2023

As of April 2023, federal student loan forgiveness programs forgave an average amount of around 21,347 U.S. dollars to eligible borrowers in the United States. In comparison, the average amount of student debt forgiven by the Public Service Loan Forgiveness program was 63,826 U.S. dollars per borrower. Public Service Loan Forgiveness grants federal loan forgiveness to borrowers who have been working for a qualifying public service employer full-time for 10 years and have made 120 monthly payments while working for that employer.

Federal student loan forgiveness programs in the United States in April 2023, by average amount forgiven per borrower (in U.S. dollars)

Characteristic	Average amount forgiven per borrower in U.S. dollars
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Release date

April 2023

More information

Region

United States

Survey time period

April 2023

Supplementary notes

Borrowers working for a qualifying public service employer, including non-profit organizations and government agencies, full-time for 10 years are eligible to apply for the Public Service Loan Forgiveness program after 120 monthly payments made while working for that employer.

Borrowers who are declared permanently disabled are eligible to apply for Total and Permanent Disability Discharge.

Borrowers can apply for the Borrower Defense to Repayment program if they believe their school did not deliver the educational services that the loan was taken out for.

If a school closes while the borrower is still enrolled there, the government may cancel their school debt through the Automatic Closed School Discharge program.

Teachers who have been working for five full and consecutive academic years in a low-income school or education agency, teaching high-need subjects, are eligible to apply for the Teacher Loan Forgiveness program.

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