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发帖数: 1 | 1 Student loan debt statistics
Let’s start with a general picture of the student loan landscape. The most
recent data highlights:
https://studentloanhero.com/student-loan-debt-statistics/
Nearly $1.75 trillion in total U.S. student loan debt.
About 46 million Americans have student loan debt (45.4 million of whom have
federal debt).
11.1% of student loans were 90 days or more delinquent or were in default
before the coronavirus pandemic (defaults were halted as part of the crisis
relief measures).
The average monthly student loan payment was $300 before the White House
instituted the repayment moratorium (the suspension is in place through Aug.
31, 2022).
More shocking student loan debt statistics
If those numbers weren’t stunning enough, here’s a closer look at how
students accumulate debt based on the type of school they attend:
55% of bachelor’s degree recipients graduating from four-year public and
private nonprofit colleges in 2020 had student loan debt.
The average debt at graduation from four-year public and private nonprofit
colleges was $28,400 in 2020, a $400 decrease from 2019.
66% of graduates from public colleges had loans (borrowing an average of $26
,900), according to 2016 data from an April 2019 report — the latest
available.
68% of graduates from private, nonprofit colleges had loans in 2016 (
borrowing an average of $31,450).
83% of graduates from for-profit colleges had loans in 2016 (borrowing an
average of $39,900).
Students and parents borrowed an estimated $95.9 billion in the 2020-2021
academic year, and 13% of that were private and other non-federal loans.
48% of borrowers who attended for-profit colleges default within 12 years,
compared with 12% of public college attendees and 14% of nonprofit college
attendees.
(Data via College Board and the Institute for College Access and Success —
here and here)
Private student loan debt statistics
Americans owe more than $136 billion to private student lenders.
Private student loan debt volume hit an estimated $12 billion in the 2020-
2021 academic year.
90% of undergraduate and 63% of graduate private loans were cosigned by
someone else during the 2020-2021 academic year.
More than half of undergraduates (53%) don’t take full advantage of federal
student loans, borrowing private loans before they’ve exhausted their
available federal loans.
16% of student loans for the class of 2019 were private.
Interest rates for cosigned private loans averaged 10.20% in 2019. | t*o
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