trillion-dollars-student-debt

12 Disturbing Facts about the over a TRILLION Dollars in Student Loan Debt. Is this the next financial crisis as tuition is up nearly 500% in the past decade?

Student Loan Debt by the Numbers

  • $1.1 TRILLION : Approximate amount of outstanding student loan debt—second only to mortgages in household debt.
  • 60% of the $1 Trillion is owed by Americans OVER the age of 30.
  • 37 Million people have outstanding student loans.
  • 1-in-5: U.S. households that have student loans.
  • $26,682: Average outstanding balance for a borrower with student debt.
  • 1-in-8: Share of borrowers with more than $50,000 in student debt.
  • 40 % : Share of American households headed by someone under 35 that have student loan debt.
  • 25 % : Share of borrowers under age 30 that spend more than 10 percent of their income on student loan payments.
  • 30 % : Share of borrowers in repayment that are delinquent on a student loan.
  • 6.7 Million: Number of borrowers who are more than 90 days delinquent on a student loan.
  • 9.1% : The number of people who defaulted on their loans in 2012
  • 31 %: Percentage increase in the number of student loan borrowers between 2007 and 2012.
    Source: ConsumerFinance.gov

 

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About kevin

A long-time technology enthusiast who, in the mid 80's, thought the internet might be something that would catch-on, so he taught himself programming. That started him on a very satisfying road as a course developer, trainer, online teacher and elearning evangelist. Thirty years later, he fancies himself to be a "futurist" and "thought leader".... those thoughts are more about learning that doesn't involve expensive technology and a vision of the future that makes education more critical than ever! More information at: http://kevincorbett.com/who-is-kevin-corbett/