Finance Graduate Education

Over three-quarters of students who earned professional and other doctoral degrees in 2019–20 borrowed money to fund their graduate education (77.6 percent). The average debt amount per borrower was $150,290. Hispanic or Latino professional and other degree recipients borrowed at the highest rate (92.5 percent) of any group, but their average amount per borrower was lower ($130,252) than that among other groups. The average debt per borrower among Asian professional and other doctoral degree recipients ($204,922) was the highest of any group, followed by Black or African American students ($150,300).