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Student Loan Debt Hits $1.3 Trillion

Student debt is a huge problem which is only growing. Here are some facts on the size of the student loan problem!

Nationwide, student loan debt impacts  more than 44 million borrowers, who owe about $1.3 trillion, according to a survey by LendEDU, a private firm that links students with student loans and loan refinancing.

Pennsylvania had the dubious distinction of placing first in the state breakdowns at $35,185, up 1.9 percent from last year.

The worst debt-ridden college graduates last year were the ones to emerge from Indiana’s Rose-Hulman Institute of Technology, a small private college  focused in  engineering, math and science, where 2016 graduates owe an average of $59,113.

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Source: New York Post. 

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Student Debt Hits Record $1.31 trillion

Ivy League Alumni

Is student debt spiralling out of control? Total U.S. student debt hit a record $1.31 trillion in 2016, the 18th consecutive year Americans’ education debt grew, according to the Federal Reserve Bank of New York.

Almost  one-quarter of student debtors whose bills have come due are in default or 90 days late on their monthly bills. Delinquencies have remained stubbornly high, despite attempts by the former Obama administration to make loan payments more affordable.



Source: Bloomberg