How Much Debt the Average American Carries Over Time
- The average American holds $5,660 in auto debt as of 2025.
- Student loan balances saw the largest increase since 2003, rising by about 273% in inflation-adjusted terms before peaking in 2020. Since then, balances have trended downward each year.
- In 2008, credit card debt reached $5,600 (inflation-adjusted), exceeding both auto and student loan balances individually. It declined in the following years before gradually rising again, with a sharper increase beginning around 2023.
Methodology
We analyzed data from the New York Fed Consumer Credit Panel/Equifax to examine average per-person balances for auto loans, student loans and credit card debt from 2003 to 2025 (Q4). We reviewed both nominal and inflation-adjusted figures (in November 2025 dollars) to compare trends over time. We then calculated percentage changes and analyzed year-over-year changes to identify long-term growth patterns, as well as key peaks and declines across each category.