
As of early 2026, the total U.S. student loan debt stands between $1.84 trillion and $1.86 trillion, depending on the specific data source. This aggregate figure includes approximately $1.7 trillion in federal student loans held by roughly 42.6 to 42.8 million borrowers, alongside $167 to $181 billion in private student loan debt.
The debt has grown significantly over the past two decades, increasing by roughly 256% since 2006. While the average borrower carries about $39,500 in debt, the median balance is lower at $24,109, indicating that a smaller percentage of borrowers hold very high balances. Women hold approximately 60% of all student loan debt, and Black borrowers owe, on average, $25,000 more than white borrowers four years after graduation.
Skilled trades are projected to remain highly lucrative for young people due to a severe labor shortage, rising wages that outpace inflation, and lower entry barriers compared to traditional college degrees.
- Wage Growth: Average hourly wages for young workers (18-25) in skilled trades have exceeded inflation by 16% since 2019, with many roles offering starting salaries that rival or surpass those of college graduates.
- Job Security: Demand is surging due to an aging workforce retiring and significant federal infrastructure investments, creating stable, long-term career paths with high job satisfaction.
- Debt-Free Entry: Vocational training and apprenticeships allow young people to start earning immediately without the burden of student loan debt, often leading to higher net worth earlier in life.
- Future-Proofing: Many young workers view trades as more resilient to AI automation than white-collar roles, with fields like electrical, plumbing, and HVAC offering clear paths to high earnings and business ownership.
