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Source: U.S. Department of Education Federal student loan debt by age. As of the second quarter of 2024, Gen X, followed by baby boomers, are among the most affected generations by student loan debt.
A 2024 survey by the Consumer Financial Protection Bureau revealed that nearly 61% of borrowers who received debt relief ... particularly those with lower incomes and larger student loan debt. ...
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In April 2024, the Biden administration initiated the forgiveness of $7.4 billion in student loan debt for 277,000 borrowers, as part of its broader strategy to address the issue. This action added to the $153 billion already forgiven for nearly 4.3 million individuals, reflecting the administration's ongoing efforts in tackling student loan debt.
Florida continues to rank high for total federal student loan debt in the U.S., with over $105.4 billion owed. ... 2024. This includes Direct Loans, Federal Family Education Loans (FFEL) and ...
Select Consumer Non-Mortgage Debt Component Averages, 2019-2024. Indeed, average student loan balances peaked in 2021 and 2022 at roughly $39,400 before falling by more than $1,000 in 2023, when ...
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