Student Loans have gotten OUT of CONTROL:
Look at the perils attached with student loans!
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Student Loan Debt is number 2 only to mortgage debt
Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans.
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According to Make Lemonade, there are more than 44 million borrowers with $1.3 trillion in student loan debt in the U.S. alone. The average student in the Class of 2016 has $37,172 in student loan debt.
The latest student loan debt statistics for 2017 show how serious the student loan debt crisis has become - for borrowers across all demographics and age groups.
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If you are a student loan borrower, the following student loan debt statistics can help you make more informed decisions regarding student loan refinance, student loan consolidation, student loan repayment and student forgiveness.
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Student Loan Stats 4th Qtr 2016
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Student Loan Statistics: Overview
(As of 4Q 2016, New York Federal Reserve)
Total Student Loan Debt: $1.31 trillion
Total U.S. Borrowers With Student Loan Debt: 44.2 million
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Student Loan Delinquency Or Default Rate: 11.2%
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Total Increase In Student Loan Debt In 4Q2016: $31 billion
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New Delinquent Balances (30+ days): $32.6 billion
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New Delinquent Balances - Seriously Delinquent (90+ days): $31 billion
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