The Consumer Financial Protection Bureau (CFPB) suggests that your student loan payments should not exceed 10% of your gross monthly income. This guideline helps ensure that your loan payments remain manageable without overwhelming your budget
. Additionally, for overall debt management, the CFPB recommends keeping your total monthly debt payments (including mortgages, student loans, car loans, credit cards, etc.) at or below 36% of your gross monthly income to maintain financial stability and avoid excessive debt burden
. In summary:
- Student loan payments: no more than 10% of gross income
- Total debt payments: ideally 36% or less of gross income
These benchmarks help consumers balance debt repayment with other financial responsibilities effectively.
