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Key student loan debt statistics. Student loan debt is a national crisis that affects millions of Americans. Though the Department of Education has led efforts to tackle this issue in recent years ...
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 ...
Student loan debt rose from $480.1 billion (3.5% GDP) in Q1 2006 to $1,683 billion (7.8% GDP) in Q1 2020. Student loans play a significant role in U.S. higher education. [51] Nearly 20 million Americans attend college each year, of whom close to 12 million – or 60% – borrow annually to help cover costs. [52]
Black or African American. Black students take out the most student loan debt for a bachelor’s degree, followed by white students. Black bachelor’s degree holders have an average of $52,000 in ...
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]
Student loan debt continues to mount to a staggering high. Right now, it's at $1.774 trillion, according to a report by Melanie Hanson, senior editor for the Education Data Initiative. In "Student...
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