Debt in America

EDEBTN= AMERICA How many Americans are in debt? * FEDERAL DEFICIT CREDIT CARDS $16,019,913,550,450 314,424, 211 people 100% of the USA $864,200,000,000 213,808,463 people 68% of the USA STUDENT LOANS $902,000,000,000 37,000,574 people 12% of the USA PAYDAY LOANS $2,921,315,340 17,922,180 people 5.7% of the USA How much does each of us owe? FEDERAL DEFECIT $50,950 per citizen 18 ft. 3 in. CREDIT CARDS $7,000 per cardholder 2 ft. 6 in. STUDENT LOANS $24,378 per borrower 8 ft. 9 in. PAYDAY LOANS $163 per borrower 0.7 in. (6-foot person) *Amounts represented as stacks of $1 bills. What could that much money buy? * FEDERAL DEBT $134,947 per household - the price of an 1800 SQ. FT. HOUSE CREDIT CARDS $7,000 per cardholder - the price of an ALL-EXPENSE PAID TRIP TO HAWAII STUDENT LOANS $24,378 per borrower - the price of a 2012 TOYOTA CAMRY PAYDAY LOANS $163 per borrower - the price of a SINGLE CAR TIRE * What is the average pay off rate? FEDERAL DEFICIT (The amount grows faster than it is being paid off) 6-12 MONTHS CREDIT CAROS UNKNOWN STUDENT LOANS PAYOAY LOANS 10-20 YEARS 25 WEEKS EDDYOU KNOW? Alaska's average credit card debt is $7,937 per person - the highest in the nation. New Hampshire is home to the highest average student loan debt, at $31,048 per student. Utah has the lowest average student loan debt, at $15,509 per student. 2011 college students had an average of $23,000 in student loan debt when they graduated. The typical payday loan customer takes out about 16 loans every year. Sources: http://www.forbes.com/sites/jamesmarshallcrotty/2012/09/12/education-shocker-81-of-those-with-student-loan-debt-want-it-forgiven/ http://www.chicagotribune.com/classified/realestate/foreclosure/sc-cons-0308-money-consumer-watch-20120308,0,516758.story http://www.asa.org/policy/resources/stats/default.aspx http://www.forbes.com/sites/moneybuilder/2012/05/30/bad-news-credit-card-debt-is-down/ http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php http://www.npr.org/2012/06/12/154868285/credit-card-debt-cut-the-reason-may-surprise-you http://money.msn.com/credit-rating/latest.aspx?post=e19e09de-67ee-4c0c-b9c4-ef985b695b56 http://www.responsiblelending.org/payday-lending/ CASH STORE