A Look Into The Student Debt Numbers

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There are many, many problems that this country faces today. Depending on your age and what phase of life you are in, your prioritization of these concerns will reflect that. If you are in college, just graduated, or have a child who is about or is currently attending college, student loan debt is up near the top of the list. Let’s take a look at the numbers.

Americans owe nearly $1.3 trillion in student loan debt, spread out among 44 million borrowers.

The average debt for a student in the class of 2016 was $37,172, up 6% from the 2015 class.

The average monthly student loan payment for ages 20-30 is $351.

The median monthly student loan payment for ages 20-30 is $203.

In 2012, 71% of students graduating from four-year colleges accumulated debt

20% of 2012 loans were private

Student loan debt by servicer:

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Student loan by loan program:

Direct Loans – $949.1 billion; 31.5 million borrowers

FFEL Loans – $335.2 billion; 16.4 million borrowers

Perkins Loans – $7.9 billion; 2.7 million borrowers

Total (All Federal) – $1.291 trillion; 42.3 million followers

Student loan by loan type:

Stafford Subsidized – $270.1 billon, 29.5 million borrowers

Stafford Unsubsidized – $436.1 billion, 27.8 million borrowers

Stafford combined – $706.2 billion, 32.6 million unique recipients

Grad PLUS – $53 billion, 1.1 million borrowers

Parent PLUS – $77.8 billion, 3.5 million borrowers

Perkins – $7.9 billion, 2.7 million borrowers

Consolidation – $447.3 billion, 12 million borrowers