Meaning of the word "in debt" in English

What does "in debt" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

in debt

US /ɪn dɛt/
UK /ɪn dɛt/

Phrase

owing money

Example:
After losing his job, he found himself deeply in debt.
Many students graduate heavily in debt due to tuition fees.