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How Student Loan Debt Adds Up

Student loans and credit card debt add to the pressure of a weak economy. Once the lesser of these two debt categories, student debt now accounts for the majority of family debt outside of home mortgages.

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Student Loan Infographic

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Student Loan Borrowing Statistics

  • Total student loan debt now exceeds credit card debt for the first time.
  • Number of College Students in the U.S.: 32.1 Million
  • Amount of Financial Aid Awarded: $150 Billion
  • Total number of student loan borrowers: 37 million
  • Average amount of student debt, after graduation: $26,600, 20% from non-federal student loans
  • Number of households with college debt: 22.4 million (19%)
  • Time spent paying back student loans, on average: 10 years
  • How much credit card debt carried by students: $2,038, Freshman; $4,138, Seniors
  • Borrowers in their 40s have the highest delinquency rate (12%), while those in their 30s have the lowest delinquency rate (6%).

About The Author

Bill Fay

Bill “No Pay” Fay has lived a meager financial existence his entire life. He started writing/bragging about it in 2012, helping birth Debt.org into existence as the site’s original “Frugal Man.” Prior to that, he spent more than 30 years covering the high finance world of college and professional sports for major publications, including the Associated Press, New York Times and Sports Illustrated. His interest in sports has waned some, but he is as passionate as ever about not reaching for his wallet. Bill can be reached at [email protected].