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In June, 43.6 million Americans held federal student loan debt, with an average balance of $38,000 per borrower. In total, the U.S. has a collective balance of over $1.7 trillion in student loans ...
60% of graduate students take out federal student loans. 47% of U.S. adults say that money issues negatively impact their mental health, according to Bankrate’s Money and Mental Health Survey ...
Age Group. Total Federal Student Loan Debt. Total Borrowers. Average Student Loan Debt by Age. 24 and Younger. $99 Billion. 7.2 Million. $13,750. 25 to 34. $494.6 Billion
Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3] Student loan debt has proliferated since 2006, totaling $1.73 trillion by July 2021. In 2019, students who borrowed to complete a bachelor's degree had ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
Wyoming. Average student loan debt: $29,809 Change from U.S. average: -31.6% Borrower delinquency rate: 6.6% Learn More: This Is the One Type of Debt That ‘Terrifies’ Dave Ramsey Discover More ...
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