U.S. consumer debt has surged to a record $18.388 trillion, underscoring how borrowing—from student loans to mortgages—has become a routine part of Americans’ financial lives over time, according to an analysis by JG Wentworth.
To estimate how much debt Americans accumulate over a lifetime, JG Wentworth analyzed four major categories—mortgages, student loans, auto loans and credit card debt—along with typical interest costs, calculating how balances build year by year and how debt levels vary across states.
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Methodology:
The study estimates lifetime debt by modeling an average American’s finances from age 18 to 78. It focuses on four common debt types—mortgages, student loans, auto loans and credit cards—using typical balances, terms and repayment timelines, while excluding less common debts like medical or personal loans.
Researchers drew on data from sources including Experian, LendingTree, Bankrate and others, applying standard loan repayment formulas to calculate how debt builds and is paid down over time. All data was collected between June and August 2025.
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How debt changes with age
By the numbers:
Americans’ debt rises and falls with major life milestones, from early credit use to homeownership and retirement. Between ages 18 and 78, the average person accumulates about $1.79 million in total debt.
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Debt starts around $20,700 at age 18, dips in the early 20s, then jumps after college as student loan repayment begins. It climbs again around age 30 with car purchases, before surging at 38—when many buy their first home—to more than $320,000, the largest increase.
Balances generally decline through midlife as loans are repaid, with a spike around 61 tied to second-home purchases. By retirement at 67, average debt falls to about $212,600, and in later years is largely limited to modest credit card balances.
Which states carry the most lifetime debt?
Dig deeper:
While Americans pay off about $1.79 million in debt over a lifetime on average, totals vary widely by state—by more than $1.17 million between the highest and lowest.
Hawaii ranks highest at roughly $2.57 million per person, driven largely by mortgage debt, followed closely by California ($2.56 million) and Washington ($2.32 million).
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At the other end, West Virginia has the lowest average lifetime debt at about $1.39 million, with relatively low mortgage, credit card and student loan balances. Iowa and Kentucky follow as the next least indebted states.
Lifetime debt by type
Big picture view:
Mortgage debt makes up the bulk of lifetime borrowing, averaging about $1.12 million—roughly 63% of the $1.79 million total—far exceeding other categories like student loans ($35,668).
Auto loans are the next largest, totaling about $245,297 over a lifetime, with higher costs in states like Alaska and Louisiana and lower totals in parts of New England.
Credit card debt adds up to roughly $387,985 over time, peaking in middle age and varying widely by state, with the highest totals in Alaska and the lowest in the Midwest.
Student loan debt is comparatively smaller, averaging $35,668, though balances are higher in states like Maryland and lower in states such as North Dakota.
The Source: The information in this story comes from a JG Wentworth analysis that examined how Americans accumulate debt over their lifetimes. This story was reported from Los Angeles.