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Student Debt over $20K/borrower has doubled in last 10 years

  • Nearly half of student loan borrowers owe at least $20K when leaving school
  • Older borrowers taking out student loans – average age exceeds 34
  • Fewer are paying down debt in 5 years:
  • 60% of borrowers not reducing balances are delinquent

https://www.consumerfinance.gov/about-us/blog/too-many-student-loan-borrowers-struggling-not-enough-benefiting-affordable-repayment-options/

This new report, titled “CFPB Data Point: Student Loan Repayment,” is available at: http://files.consumerfinance.gov/f/documents/201708_cfpb_data-point_student-loan-repayment.pdf  

General statistics:

  • 44 Million Americans owe student loan debt
  • $1.4 Trillion owed in federal and private student debt
  • More employers offering repayment benefits:

This new report, titled “Innovation Highlights: Emerging Student Loan Repayment Assistance Programs,” is available at: http://files.consumerfinance.gov/f/documents/cfpb_innovation-highlights_emerging-student-loan-repayment-assistance-programs.pdf 

 

RESOURCES :

CFPB Data Point: Student Loan Repayment

http://files.consumerfinance.gov/f/documents/201708_cfpb_data-point_student-loan-repayment.pdf

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