A student advocate at my institution recently claimed that grad students have more debt than undergrads. This surprised me, because I would expect that typical grad students are the kind of student that would be able to gather more financial aid (scholarships, awards, fellowships, etc.) during their time as an undergrad than typical undergrads. Furthermore, most PhD students (and many masters students) have their tuition waived while working as a TA/RA, so they accrue little/no additional debt. Of course, this likely varies with field, too: students in STEM are more likely to have institutional funding while law or medical students often have to pay their own way.
While I don't know if the statistic I quoted was comparing undergrads who haven't yet accrued their full measure of debt to grads who have all of their undergrad debt, it begs an interesting question:
Do undergraduate students typically have more student debt than graduate students have, and (broadly) how does this vary with field of study?
The comparison ought to be made after each group graduates from their respective program, since comparing a 1st year undergraduate's debt to a 1st year PhD student's debt clearly would not be helpful.