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Ohio is one of the top states in the country with the most student loan debt and has a high debt-to-income ratio. Ohio ranked as the No. 9 state for the most student loan debt in the country Skip ...
Average student loan debt continues to rise in the United States. ... rising education costs make it hard for many to afford college without loans. ... Ohio. $25,696. Oklahoma. $34,767. Oregon ...
Private debt rising 'rapidly' The TICAS report also noted that the private student loan market has increased "rapidly" from $92.6 billion in 2014 to $136.3 billion in 2021. Private student loan ...
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...
There is concern that the possible higher education bubble in the United States could have negative repercussions in the broader economy. Although college tuition payments are rising, the supply of college graduates in many fields of study is exceeding the demand for their skills, which aggravates graduate unemployment and underemployment while increasing the burden of student loan defaults on ...
Student loan debt most aggressively traps lower-income earners, often preventing them from rising in the economic ranks. This feeds into America’s disproportionate division of wealth.
The federal government also began funding fewer grant programs and more loan programs, leaving students with higher amounts of debt. In 2003, almost 70% of federal student aid awarded was student loans, which was a much higher percentage than just a decade prior. [16]
Roughly 1.8 million Ohioans have outstanding student loan debt, and nearly all are eligible for President Joe Biden's student debt relief plan. More than 94% of Ohio student loan borrowers ...