According to research from the Federal Reserve Bank of New York, the average student loan monthly payment is $393. They also found that 50% of student loan borrowers owe more than $19,281 on their student loans.
Average Student Loan Debt
$1.75 trillion in total student loan debt (including federal and private loans)
$28,950 owed per borrower on average
About 92% of all student debt are federal student loans; the remaining amount is private student loans
55% of students from public four-year institutions had student loans
57% of students from private nonprofit four-year institutions took on education debt (Forbes)