Student Debt By the Numbers

STUDENT DEBT BY THE NUMBERS OVER 20 MILLION AMERICANS 60% TAKE LOANS ATTEND COLLEGE TO COVER COSTS. EACH YEAR. %24 37 MILLION WITH CURRENT OUTSTANDING LOANS. Total Price of Outstanding Loans: 1 TRILLION $850 Billion of loans federal. $150 Billion of loans are privately held. DEBT HELD BY AGE GROUP AVERAGE ACROSS AGE GROUPS: $24,301. 5 60 and over 2.2 Million 4 50-59 years 4.6 Million. owe more than $200,000 <1% 3 40-49 years 5.7 MILLllon. Owe More than Ş100,000 3% 30-39 years 10.6 MILlion. Owe More than $54,000 10% 1 30 or Under 14 Million. borrow more than S28.000. 25% 150.000 on 200.000.00 250.000.00 10 12 INCOME-BASED VS NON-INCOME-BASED LOAN REPAYMENT PLANS 9.84 Million 3.35 Million 1.63 Million 1,58 1.3 Million Million 0.45 Million REPAYMENT HAVE REPAY ON HAVE PLANS ARE HOLD INCOME- CONTINGENCY BASED ON A PAY-AS NOT FORCED TO EXTENDED INCOME. -YOU-EARN ATTACHED TO TAKE ON GRADUATE PAYMENTS. PLAN. INCOME EARNED. EXTENDED REPAYMENT REPAYMENT. PLANS DEFAULTS AND DELINQUENCY FIRST HALF OF 2013 HIGHEST SINCE 2003. $52 BILLION WORTH IN LOAN PAYMENTS WERE DELINQUENT. 21.8% DEFAULT IN FIRST TWO YEARS. WHY THE DELINQUENCY? 3% BACHELORS DEGREE WEEKLY AVERAGE PAYCHECK AVG. DROPPED BACHELORS DEGREE UNDER 25 WEEKLY PAYCHECK AVG. DROPPED 4% OT Frozen Pea Fund wwW.FROZENPEAFUND.COM SOURCES HTTP//WwW.ASA ORGPOLICYRESOURCES/STATS HTTPJ/Www.THEATLANTIC.COM/BUSINESS/ANCHVE/2013/08/OUR-STUDENT-LOAN-SYSTEM5-BROKEN-AND-THESE-NEW-STATSTICS-PROVEHT/2784S3/