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The largest racial inequity was between European Americans with a bachelor's degree who made $53,185 and Hispanics who made $12,263 or 29.9% less with an average annual income of $40,949. [3] However, Asian Americans as a whole earn more than any other race due to a greater percentage of them being educated overall, an example of Simpson's paradox.
Roughly 1.54% of U.S. consumers had a FICO® Score of 850, according to Experian data from the third quarter of 2023. Since FICO® Scores range from 300 to 850, that's as perfect as you can get.
The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15] [16] [17] According to FICO, the median FICO credit score in 2006 was 723 [18] and 721 in 2015. [19]
When it comes to credit scores, very few Americans achieve perfection In fact, just 1.31% of Americans have a FICO® Score of 850, according to a credit score study from The Motley Fool Ascent.
500 credit score. 700 credit score. Interest rate. 17.63 percent. 8.59 percent. Monthly Payment. $630. $514. Total interest paid. $12,789. $5,844
Nearly 20 million Americans attend college each year, of whom close to 12 million – or 60% – borrow annually to help cover costs. [51] As of 2021, approximately 45 million Americans held student debt, with an average balance of approximately $30,000. [52]
People with the best scores typically use less than 10% of their credit limits. If we take that $50,000 in available credit, it is good to use 30% of it, or $15,000. It's even better to use 10% ...
A US Department of Education longitudinal survey of 15,000 high school students in 2002 and 2012, found that 84% of the 27-year-old students had some college education, but only 34% achieved a bachelor's degree or higher; 79% owe some money for college and 55% owe more than $10,000; college dropouts were three times more likely to be unemployed ...