By the third quarter of 2020, 7.4 million borrowers had a debt size of $19.4 in total, with less than $5,000 debt each.The total amount of debt size for borrowers with less than 5K was $19.6 billion. In the second quarter of 2020, 7.7 million borrowers each had less than $5,000 in debt size.In comparison, during the same period of 2020, the number of borrowers with more than $200,000 in debt size was 0.8 million with $245.8 billion in total with a 165.2% difference. The number of borrowers with less than $5,000 in debt size each in the first quarter of 2020 was 8.4 million, with $21.8 billion in total.The average debt size depends on the number of borrowers that received the loan at the same time.The debt size grows significantly - in percentage - every year. The loan debt size of American students starts below $5,000 and increases depending on the circumstances of the time of the loan and after. ![]() Student Loan Debt Statistics by Debt Size Alongside the attendance, the student loan borrowing rate increased with more than 8 million borrowers in 2021.The total federal student loan debt amounts to around $1.59 trillion, with 42.9 million borrowers.The American students’ loan debt, both private and state, has reached $1.73 trillion in total.The loan debt of current students is increasing along with the loan debt payments of previous college graduates. Around 90 million American students have a degree in higher education, and the number is constantly growing. The higher education institutions in America are continuously growing in enrollment numbers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |