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Key student loan debt statistics. Student loan debt is a national crisis that affects millions of Americans. Though the Department of Education has led efforts to tackle this issue in recent years ...
The federal student loan program was criticized for not adjusting interest rates according to factors under students' control, such as the choice of academic major. Critics have contended that flat-rate pricing contributes to inefficiency and misallocation of resources in higher education and lower productivity in the labor market. [ 15 ]
In “Student Loan Debt Statistics,” Hanson noted that outstanding federal loan balances comprise $1.644 trillion of that amount, accounting for 92.6% of all student loan debt.
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
Student loan debt continues to mount to a staggering high. Right now, it's at $1.774 trillion, according to a report by Melanie Hanson, senior editor for the Education Data Initiative. In "Student...
Interest rates for student loans may be fixed or variable. A fixed rate stays the same over the life of the loan, no matter what happens to market interest rates overall. A variable interest rate ...
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