Student loans aren't going anywhere anytime soon. In fact, according to data recently released by the Federal Reserve Bank of New York, student loan debt is the only kind that has increased despite the recession. People have been avoiding putting more debt on credit cards, but student loans have gone up. They're second only to mortgages as the most common type of loan debt. Here are some more facts and figures about the post-graduate gift that keeps on taking. All figures are from either the first or second quarter of 2012, depending on availability.
Average student loan debt in the U.S.: $24,301
Average amount of student loan debt among those younger than 30: $20,835
Average amount of student loan debt among those 30-39 years old: $28,906
The percentage of those 90 or more days delinquent on their student loans increased to 8.9 percent.
14 million people younger than 30 owe student loans in the United States.
Student loan debt has increased by $303 billion since 2008, while every other kind of debt fell $1.6 trillion.
10.6 million people ages 30-39 have student loan debt.
37.1 million people in the U.S. have student loan debt.
$914 billion is owed in student loans in the U.S.
Source: The Federal Reserve Bank of New York
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