---
title: "401(k) Loan Outstanding Rate"
slug: 401-k-loan-outstanding-rate
summary: "13% of participants in Vanguard-administered 401(k) plans had a loan outstanding at the end of 2025"
category: "Savings"
unit: percent
frequency: annual
direction: higher_is_worse
latest_value: 13.0
latest_period: "2025"
trend: stable
last_updated: "2026-09-25T03:47:15Z"
source: "Vanguard How America Saves 2026"
measurement_basis: "Share of participants in Vanguard-recordkept defined contribution plans with a loan outstanding against their account at year end, from Vanguard's How America Saves. It covers the plans Vanguard administers, not all U.S. 401(k) participants."
source_url: https://workplace.vanguard.com/insights-and-research/report/how-america-saves-2026.html
source_urls:
  - https://institutional.vanguard.com/content/dam/inst/iig-transformation/insights/pdf/2025/has/2025_How_America_Saves.pdf
  - https://institutional.vanguard.com/content/dam/inst/iig-transformation/has/2026/pdf/HowAmericaSaves2026_accessibility.pdf
canonical_html: https://americandefault.org/indicators/401-k-loan-outstanding-rate/
citation_apa: "Kilburn, R. (2026). 401(k) Loan Outstanding Rate [Data set]. American Default Research. https://americandefault.org/indicators/401-k-loan-outstanding-rate/"
citation_chicago: "Kilburn, Ross. 2026. \"401(k) Loan Outstanding Rate.\" American Default Research. https://americandefault.org/indicators/401-k-loan-outstanding-rate/."
citation_mla: "Kilburn, Ross. \"401(k) Loan Outstanding Rate.\" American Default Research, 2026, americandefault.org/indicators/401-k-loan-outstanding-rate/."
---

# 401(k) Loan Outstanding Rate

> 13% of participants in Vanguard-administered 401(k) plans had a loan outstanding at the end of 2025

## Current Reading

As of 2025, 401(k) Loan Outstanding Rate is **13%** (stable).

of participants in Vanguard-administered plans that offer loans had one outstanding at year end

## What Changed

- At the end of 2025, 13% of participants in Vanguard-administered plans that offer loans had a 401(k) loan outstanding. That is the same as at the end of 2024.
- The share has matched the year before for two years in a row.

## Recent Values

| Period | Value |
|--------|-------|
| 2025 | 13% |
| 2024 | 13% |
| 2023 | 13% |
| 2022 | 12% |
| 2021 | 13% |
| 2020 | 13% |
| 2019 | 13% |
| 2018 | 13% |

## Historical Context

- Peak since 2018: **13%** in 2018
- Low since 2018: **12%** in 2022
- Post-pandemic average (2020-01 – 2024-12): **12.8%**

## Methodology

This indicator carries annual observations and is interpreted as higher values indicate worse household conditions. Source: Vanguard How America Saves 2026.
Measurement basis: Share of participants in Vanguard-recordkept defined contribution plans with a loan outstanding against their account at year end, from Vanguard's How America Saves. It covers the plans Vanguard administers, not all U.S. 401(k) participants.
Automation: parsed from the source's published reports via the Anthropic Claude API.

## Source

Vanguard How America Saves 2026
- [https://institutional.vanguard.com/content/dam/inst/iig-transformation/insights/pdf/2025/has/2025_How_America_Saves.pdf](https://institutional.vanguard.com/content/dam/inst/iig-transformation/insights/pdf/2025/has/2025_How_America_Saves.pdf)
- [https://institutional.vanguard.com/content/dam/inst/iig-transformation/has/2026/pdf/HowAmericaSaves2026_accessibility.pdf](https://institutional.vanguard.com/content/dam/inst/iig-transformation/has/2026/pdf/HowAmericaSaves2026_accessibility.pdf)

Data retrieved: 2026-09-25T03:47:15Z

## Related Indicators

- [the-cannibalization-rate](https://americandefault.org/indicators/the-cannibalization-rate/)

## Machine-Readable Endpoints

- HTML page: https://americandefault.org/indicators/401-k-loan-outstanding-rate/
- JSON: https://americandefault.org/api/indicators/401-k-loan-outstanding-rate.json
- CSV: https://americandefault.org/api/downloads/401-k-loan-outstanding-rate.csv
- BibTeX: https://americandefault.org/citations/401-k-loan-outstanding-rate.bib
- RIS: https://americandefault.org/citations/401-k-loan-outstanding-rate.ris

## Citation

**APA 7th**

    Kilburn, R. (2026). 401(k) Loan Outstanding Rate [Data set]. American Default Research. https://americandefault.org/indicators/401-k-loan-outstanding-rate/

**Chicago (author-date)**

    Kilburn, Ross. 2026. "401(k) Loan Outstanding Rate." American Default Research. https://americandefault.org/indicators/401-k-loan-outstanding-rate/.

**MLA 9th**

    Kilburn, Ross. "401(k) Loan Outstanding Rate." American Default Research, 2026, americandefault.org/indicators/401-k-loan-outstanding-rate/.

Use **American Default Research** as the institutional name in source lists, bibliographies, and press citations. **American Default** is the brand and URL form. **American Distress Index (ADI)** is the product name for the national composite score.