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As of 2012, 39 percent of federal student loan defaults occurred for people who attended for-profit colleges. In 2018, the National Center for Education Statistics reported that the 12-year student loan default rate for for-profit colleges was 52 percent. Except for Nova Southeastern, they are all for-profit. The schools whose students have the highest amount of debt are University of Phoenix, Walden University, Nova Southeastern University, Capella University, and Strayer University. Student loan defaults are disproportionately common in the for-profit college sector.

Research indicates that increasing borrowing limits drives tuition increases. As of 2017, student debt constituted the largest non-mortgage liability for US households. : 1 Loan amounts vary widely based on race, social class, age, institution type, and degree sought. : 1 Almost half of all loans are for graduate school, typically in much higher amounts. In 2019, students who borrowed to complete a bachelor's degree had about $30,000 of debt upon graduation. Student loan debt has proliferated since 2006, totaling $1.73 trillion by July 2021. Student loans may be discharged through bankruptcy, but this is difficult. With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships, which are not repaid, and grants, which rarely have to be repaid. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses.

In the United States, student loans are a form of financial aid intended to help students access higher education.

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