The United States of Student Debt

ШИ THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% MA 63%, RI 67% CT 61% SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% PA 70% OH 68% wV 73% VA NV 39% UT 44% IL IN 62% 62% NJ 66% CO 55% KS 57% MO 65% DE 50% CA KY 58% 58% MD 54% 48% OK 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% МА 63% RI 67% ст 61%, SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% OH PA 70% IL IN 62% 62% NV 39% UT 44% 68% NJ 66% CO 55% KS 57% MO 65% 73% VA 58% DE 50% CA КY 58% MD 54% 48% ОК 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% МА 63% RI 67% ст 61%, SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% OH PA 70% IL IN 62% 62% NV 39% UT 44% 68% NJ 66% CO 55% KS 57% MO 65% 73% VA 58% DE 50% CA КY 58% MD 54% 48% ОК 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% МА 63% RI 67% ст 61%, SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% OH PA 70% IL IN 62% 62% NV 39% UT 44% 68% NJ 66% CO 55% KS 57% MO 65% 73% VA 58% DE 50% CA КY 58% MD 54% 48% ОК 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% МА 63% RI 67% ст 61%, SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% OH PA 70% IL IN 62% 62% NV 39% UT 44% 68% NJ 66% CO 55% KS 57% MO 65% 73% VA 58% DE 50% CA КY 58% MD 54% 48% ОК 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG THE UNITED STATES OF STUDENT DEBT HHIE IS STUDENT DEBT OUR NEXT BUBBLE? Traditionally considered to be "good" debt, student debt held by college grads has now exited the realm of what most would consider to be good. With the latest estimates pushing total U.S. student debt above the $1 trillion barrier-surpassing credit card or automobile debt-many experts suspect that we are about to burst our next "bubble" (as if we need another). Still, not every grad carries the same amount of debt-those in certain states fare much worse. Take a peek at how student loan debt impacts borrowers across the U.S. STATING THE OBVIOUS: MORE COLLEGE GRADS ARE CARRYING MORE STUDENT DEBT THAN EVER AVERAGE DEBT FOR THOSE WHO GRADUATED IN 2010 WITH DEBT: $25,250 % college grads with debt Under 40% 40%-49% 50%-59% 60%-69% 70%+ WA 59% ND N/A MT 65% ME 68% VT 66% NH 74% МА 63% RI 67% ст 61%, SD 75% WI 67% MN 71% OR 63% ID 66% WY 42% MI 60% NY 61% IA 72% NE 62% OH PA 70% IL IN 62% 62% NV 39% UT 44% 68% NJ 66% CO 55% KS 57% MO 65% 73% VA 58% DE 50% CA КY 58% MD 54% 48% ОК 56% AR 57% TN 46% NC 53% DC 54% AZ 47%- NM 56% MS AL 52% 56% GA 55% SC 55% LA TX 56% AK 50% 48% FL 49% HI 38% STATE AVERAGE DEBT STATE AVERAGE DEBT STATE AVERAGE DEBT $15,509 -$15,550 $16,399 $16,622 $18,113 $18,454 $18,888 $19,375 $19,957 $20,571 - $20,708 $20,919 $20,959 $21,184 $21,227 - $21,408 $21,500 Louisiana Wisconsin Alabama Connecticut -$24,548 - $24,627 ........... $24,821 ......... $25.360 Maryland Colorado Washington Mississippi Kansas Missouri Alaska Montana South Dakota Virginia South Carolina West Virginia New Jersey Wlinois Oregon Idaho District of Columbia · $21,750 -$22,017 · $22,101 $22,142 $22,280 - $22,601 $22,717 ·$22,768 -$23,171 · $23,327 $23,623 -$23,678 $23,792 $23,885 -$23,967 ...... $24.178 Utah Hawaii New Mexico Nevada California Arizona Georgia Kentucky Massachusetts ...... $25.541 Michigan New York Rhode Island Indiana .**..... $25,675 ......... $26.271 ....... $26,340 $27,001 ...... $27,713 |-- $28,391 ...…* $28,599 - $29,058 · $29,598 -$29,983 $31,048 n/a Tennessee Wyoming Oklahoma Ohio Vermont Pennsylvania Minnesota lowa Техas North Carolina Florida Nebraska Maine New Hampshire North Dakota Arkansas Delaware - $24,191 THE BORROWERS: DEMOGRAPHY & DELINQUENCY In the third quarter of 2011, of the 241 million consumers who have credit reports with Equifax, 37 million held outstanding student debt. THE NUMBER AND BALANCE OF BORROWERS, BY AGE Student Loan Borrowers, by Age (Q3, 2011) Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers: 37 Million Total Loan Balance: $870 Billion Age Unkown 1.7% 1.4% Age Unkown 5.3% 4.2% 60+ 60+ 11.8% . •11.3% 50-59 50-59 14.8% •16.4% 40-49 40-49 26.9% 32.8% 30-39 30-39 Under 30 39.6%•. 33.9% Under 30 BORROWERS, BY BALANCE Student Loan Borrowers, by Balance Level (2011) Total Number of Borrowers: 37 Million $1- $10,000 $10,000- $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $150,000 $150,000- $200,000 Greater than $200,000 43.1% 29.2% 16.5% 5.9% 2.3% 1.9% 0.7% 0.5% TOTAL PAST-DUE BALANCE: $85 BILLION Delinquent Student Loan Borrowers in the Repayment Cycle (Q3, 2011) Past-Due Student Loan Balance, by Age (Q3, 2011) Total Number of Borrowers in the Repayment Cycle: 20 Million Percent of the past due balance held by each age group Age Unkown 0.8% 60+ 4.8% 27% 50-59 12.1% With past-due balance 73% 23.1% 40-49 With no past-due balance (balance in Q3 smaller than in Q2) Under 30 25% 34.2% 30-39 SOURCES: PROJECTONSTUDENTDEBT.ORG LIBERTYSTREETECONOMICS.NEWYORKFED.ORG mintcom NACEWEB.ORG FINAID.ORG