Here's how much student debt Americans with PhDs have on average (via CNBCMakeIt)
, in part because many Americans with Ph.D.s also hold debt from earning previous degrees. The organization analyzed student loan balances of graduates from the 1999-2000 academic year to the 2015-2016 academic year and found that average loan balances for those who earned their Ph.D. increased by 104%, from $48,400 to $98,800, and student loan balances for those who earned medical doctorates increased by 97% from $124,700 to $246,000.
Average debt among students who earned other non‑Ph.D. doctorates increased by 105%, from $64,500 to $132,200. One reason for these increased debt levels among graduate students is theover the past several decades, for graduate as well as undergraduate students. Though debt levels may be high, the demand for highly skilled workers is not likely to change, which means these highly-educated borrowers should continue to have an advantage in the labor market. The
predicts that by 2020, 65% of all jobs in the American economy will require education beyond high school.
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