A new study from financial services company JG Wentworth reveals how long Americans stay in debt, and how interest and repayment habits can stretch timelines far beyond expectations.
Research shows that Americans hold over $18.57 trillion in household debt, with the average consumer owing $105,444, highlighting how widespread borrowing has become. While mortgages make up the largest share, millions also juggle credit cards, auto loans, and student debt simultaneously, according to Experian.
To understand how long this debt lasts, a survey of 1,376 U.S. adults conducted on behalf of JG Wentworth analyzed repayment timelines, the impact of interest, and which borrowers stay in debt the longest.
The findings show a stark divide: while some debts are cleared in a few years, others can stretch across decades, especially when interest and lower monthly payments come into play.
Repayment timelines by debt type
Repayment lengths vary significantly by loan type, with credit cards cleared fastest and mortgages lasting the longest on average:
- Mortgage: 17.5 years
- Student loan: 7.4 years
- Auto loan: 5.2 years
- Personal loan: 2.4 years
- Credit card: 1.3 years
Mortgage debt can stretch across a lifetime
One in seven (14.2%) Americans could take up to 65 years to pay off their mortgage when making payments of $500 or less per month. In contrast, those paying $1,001-$1,501 monthly could reduce repayment time to around 13 years. On average, mortgages take 17.5 years to repay.
Smaller payments can significantly extend debt
Auto loans take 5.2 years on average with interest, but lower monthly payments can stretch this to over a decade. Similarly, student loans last 7.4 years on average, nearly twice as long as earning a degree, and could exceed 11 years at lower repayment levels.
Credit cards are typically repaid in 1.3 years, but lower payments can extend this to four to eight years or more.
Interest adds years, not just cost
Interest significantly extends repayment timelines across all debt types, adding:
- 6.8 years to mortgages
- 1.6 years to student loans
- 1.2 years to auto loans
- 0.3 years to personal loans
Who stays in debt the longest?
Repayment speed is largely driven by balance size and monthly payments:
- Gen Z repays credit card debt fastest (nine months vs. 22 months for older generations).
- Gen Z also clears auto loans quickest (4.6 years), with lower average balances.
- Millennials take the longest to repay personal loans (2.9 years).
- Mortgage timelines increase sharply with age, rising from 13.5 years (Gen Z) to 35.8 years (baby boomers).
- Gen X takes more than twice as long as Gen Z to repay student loans (11.1 vs. 5.0 years).
You can find the analysis here.
Parents vs. non-parents
Respondents with children pay off their debts significantly faster than those without, across all types of loans. Parents consistently repay debt faster than those without children, including:
- Credit cards: 17 months vs. 36 months
- Student loans: 7.2 years vs. 13.8 years
- Mortgages: 17.2 years vs. 20.2 years
Methodology: The survey was conducted in March 2026 and asked 1,376 U.S. adults about their debt, loan balances, and monthly repayments amounts.
For some questions, respondents were able to select multiple answers, so totals may not add up to 100%.
Photo credit: Jakub Żerdzicki/Unsplash
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