Debt: Doctoral Degree Recipients
Nearly half of doctoral students borrowed to finance their education (47.7 percent). The average debt level among borrowers was $81,176, with the highest debt levels occurring for Black or African American and Hispanic or Latino borrowers. The shares of Black or African American and Hispanic or Latino doctoral degree recipients who borrowed for their graduate study, 80.6 and 72.3 percent, respectively, were far higher than the shares of White doctoral degree recipients, 55.7 percent.
Race and Ethnicity in Higher Education: A Status Report
Chapter Eight: How Students Finance Graduate Study
Chapter Eight Report Download (PDF) 2.9 MB
Chapter Eight Data Tables Download (XLSX) 91 KB
U.S. Department of Education, National Postsecondary Student Aid Study, 2016
Estimate suppressed for American Indian or Alaska Native, Native Hawaiian or other Pacific Islander, and students of more than one race due to small sample size.
Estimate for borrowing rates among Asian doctoral degree recipients should be interpreted with caution. Ratio of standard error is > 50 percent.
Estimate suppressed for Asian students’ cumulative debt for graduate study. Reporting standards not met.
Cumulative debt of doctoral degree recipients shows the average amount borrowed per borrower.