Key takeaways
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Many graduate students take out loans starting at around $45,000 to cover their education costs.
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The cost of graduate school has risen exponentially since 2000, and the majority of students borrow loans to pay for the expense.
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The amount of debt varies greatly by program, with fields in allied health and law having particularly high debt-to-income ratios.
Graduate degrees can elevate your career by helping you better qualify for a job in your field of interest. They can make your resume stand out in a competitive job market, give you the necessary skills to move up the ladder, help you switch industries and boost your salary.
According to Education Data Initiative, students rack up more than $70,000 on average, borrowing the bulk of their loans for graduate programs specifically. The total cost can reach as much as six figures, depending on the school and the program of study you choose. Here are some ways to keep these costs at bay.
Key graduate school student loan debt statistics
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Graduate students in the U.S. leave school with about $46,798 in debt on average, according to Education Data Initiative.
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According to NCES, the average cost of tuition and fees for graduate school at public universities was $12,596 and $28,017 at private schools during the 2021-22 academic year.
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The average annual borrowing amount for graduate school has increased by 233 percent since 2000, according to a report from the Georgetown Center for Education and Workforce (CEW), and some programs have more than tripled in cost.
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According to the Urban Institute, debt-to-earnings ratios tend to be particularly high among allied health graduates, including those in clinical, counseling and applied psychology.
Average student loan debt for a master’s degree
A report updated in 2025 from the Institute for College Access and Success shows debt burdens starting at around $45,000 for many master’s programs, crossing into six-figure territory for professional degrees. These numbers, as with other data, vary widely based on the type of academic institution and the degree program.
Among the 25 programs listed with the average highest student loan debt, many range between $60,000 and $70,000 — three of these programs being in healthcare fields. Others in this list represent a cross-section of master’s programs, including fields like communications and real estate.
The Education Data Initiative reflects similar data, noting that the typical cost of a master’s degree in 2024 was roughly between $44,000 and $71,000. While student loans accounted for the debt burden incurred for an education specifically, graduate students also took on debt in other forms, including higher consumer and mortgage debt rates than the national average after graduation.