https://www.forbes.com/sites/zackfriedman/2017/02/21/student-loan-debt-statistics-2017/#20258a415dab
Student loan debt is now the
second highest consumer debt category -- behind only mortgage debt -- and
higher than both credit cards and auto loans.
According to Make Lemonade, there are more than 44 million borrowers
with $1.3 trillion in student loan debt in the U.S. alone. The average student
in the Class of 2016 has $37,172 in student loan debt.
The latest student loan debt
statistics for 2017 show how serious the student loan debt crisis has become -
for borrowers across all demographics and age groups.
If you are a student loan
borrower, the following student loan debt statistics can help you make more
informed decisions regarding student loan refinance, student loan consolidation, student
loan repayment and student forgiveness.
Student Loan Statistics:
Overview
(As of 4Q 2016, New York
Federal Reserve)
Total Student Loan Debt: $1.31
trillion
Total U.S. Borrowers With
Student Loan Debt: 44.2 million
Student Loan Delinquency Or
Default Rate: 11.2%
Total Increase In Student Loan
Debt In 4Q2016: $31 billion
New Delinquent Balances (30+
days): $32.6 billion
New Delinquent Balances -
Seriously Delinquent (90+ days): $31 billion
High Student Loan Debt States
& Low Student Loan Debt States
New Hampshire has the highest
average student loan debt per student ($36,101) from the Class of 2015.
Utah has the lowest average
student loan debt per student ($18,873) from the Class of 2015.
In the U.S., the average student
loan debt per capita is $4,920. Pennsylvania, New York and Michigan have among
the highest student loan debt per capita in the nation.
Arizona: $4,760
California: $4,160
Florida: $4,480
Michigan: $5,330
New York: $5,570
Ohio: $5,700
Pennsylvania: $5,690
Texas: $4,510
As of 2015, more than 42
million student loan borrowers have student loan debt of $100,000 or less. More
than 2 million student loan borrowers have student loan debt greater than
$100,000, with 415,000 of that total holding student loan debt greater than $200,000.
The largest concentration of student loan debt is $10,000 - $25,000, which
accounts for 12.4 million student loan borrowers.
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