Student Loan Figures are Stunning

American student loan debt is greater than ever. The numbers would be beyond belief if they weren’t so real.
- $1.26 trillion in total U.S. student loan debt
- 2 million Americans with student loan debt
- Student loan delinquency rate of 11.1%
- Average monthly student loan payment (for borrower aged 20 to 30 years): $351
- Median monthly student loan payment (for borrower aged 20 to 30 years): $203
{Source: newyorkfed.org; clevelandfed.org}
Student Loan Debt Statistics by Loan Program
Direct Loans – $911.6 billion; 30.5 million borrowers
FFEL Loans – $342.6 billion; 16.8 million borrowers.
Perkins Loans – $8.0 billion; 2.7 million borrowers.
Student Loan Debt Statistics by Loan Type
Stafford Subsidized – $266.7 billion; 28.9 million borrowers
Stafford Unsubsidized – $423.5 billion; 27.1 million borrowers
Stafford combined – $690.3 billion; 31.9 million unique recipients
Grad PLUS – $50.2 billion; 1.0 million borrowers
Parent PLUS – $74.5 billion; 3.3 million borrowers
Perkins – $8.0 billion; 2.7 million borrowers
Consolidation – $439.2 billion; 12.0 million borrowers
{Source: Studentaid.ed.gov}
Student Debt Statistics by Loan Status (Direct Loan Program)
Loans in repayment – $468.1 billion; 15.7 million borrowers
Loans in deferment – $101.7 billion; 3.4 million borrowers
Loans in forbearance – $102.8 billion; 2.7 million borrowers
Loans in default – $63.2 billion; 3.9 million borrowers
Loans in grace period – $42.6 billion; 1.7 million borrowers
Student Loan Statistics by Repayment Plan (Direct Loan Program)
Level Repayment Plan, 10 years or less – $197.8 billion; 11.26 million borrowers
Level Repayment Plan, greater than 10 years – $72.6 billion; 1.65 million borrowers
Graduated Repayment plan, 10 years or less – $69.2 billion; 2.68 million borrowers
Graduated Repayment Plan, greater than 10 years – $12.8 billion; 0.28 million borrowers
Income-Contingent (ICR) – $23.5 billion; 0.60 million borrowers
Income-Based (IBR) – $174.3 billion; 3.10 million borrowers
Pay As You Earn (PAYE) – $44.3 billion; 1.00 million borrowers
Revised Pay As You Earn (REPAYE) – $26.9 billion; 0.57 million borrowers
{Source: studentaid.ed.gov}
Combined Undergraduate and Graduate Debt by Degree
Note: About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees.
MBA = $42,000 (11% of graduate degrees)
Master of Education = $50,879 (16%)
Master of Science = $50,400 (18%)
Master of Arts = $58,539 (8%)
Law = $140,616 (4%)
Medicine and health sciences = $161,772 (5%)
{Source: 2012 Newamerica.org study}
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