YOUR RANK ON THE AMERICAN DEBT SCALE
Do You Have More Or Less Debt Than The Average Gen Zer?
The average individual debt is $93,300, but Gen Zers are still a long way from that.
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The Lede
The national debt is currently around $14.88 trillion, which makes the average individual debt roughly $93,300. According to data from an Experian consumer debt study, Gen Zers, aged between 18 and 23, have an average of $16,043 in individual debt.
Key Details
- Gen Z had the highest debt growth — 67.2 percent — between 2019 and 2020.
- Millennials had the second-highest debt growth for that period: their debt grew 11.5 percent, from $78,396 to $87,448.
Additional Thoughts
Gen Z debt breakdown:
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Average credit card debt: $1,963
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Average student loan debt: $17,338
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Average auto loan debt: $15,574
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Average personal loan debt: $6,004