Student Debt facts

While investigating facts about Student Debt Crisis and Student Debt Forgiveness, I found out little known, but curios details like:

Student loans have passed credit cards and auto loans to become the second biggest source of personal debt in the U.S., trailing only mortgages.

how student debt affects the economy?

United States student loan debt exceeds US credit card debt and auto debt

What student debt is too much?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what is the average student loan debt. Here are 47 of the best facts about Student Debt Relief and Student Debt Calculator I managed to collect.

what's student debt?

A man aspiring to become a lawyer was denied admission to the New York bar because his student debt exceeded $400,000. Five appellate judges concluded his payments had been too meager to date and thus he had not "established the character and general fitness requisite for an attorney".
Canadians graduate with more student debt than Americans on average, despite far lower tuition rates
Senior citizens are the fastest-growing student debtors in US and owe more than $67 billion in student debt.
The average American dental student now graduates with $261,149 in debt.
Augustus Caesar was rich enough that he could pay off every single student loan in the US, Pay off all credit card debt for every citizen in the US, All debt held by US states to the federal government, Pay of the debt of the lowest owing 120* countries and still be the richest man alive today
Some debts are not erased when an individual files for bankruptcy. These debts can include child support payments, legal fines, some student debts, car loans, mortgages, and alimony payments, depending on where the individual lives.
Even though college is free in Sweden, students when they graduate still have 70% of the debt that Americans do, and their dept/income is the highest of the developed world.
That, according to a recent survey, a third of millennials that have student debt would sell an organ to get rid of it. The average student debt among this year's class of graduates was just over $35k, whereas a human organ can go for upwards of $100k on the black market.
A financial institution estimated the average millennial with student debt had 75 percent less net worth than their debt-free peers. The median net bank account balance (checking+savings) of all grads under 35 who had loans, they found, was $5,500, while it was some $10,180 for those who didn't.
Former Sallie Mae CEO Albert Lord got so rich off student debt that he built his own private golf course.

student debt facts — What is the average student loan debt in 2019?

Student Debt data charts

For your convenience take a look at Student Debt figures with stats and charts presented as graphic.

student debt fact data chart about My student loan debt, and forecasted repayments (UK) — My student loan debt, and forecasted repayments (UK)

student debt fact data chart about A Map of Student Loan Debt in the US — A Map of Student Loan Debt in the US

Why student debt is bad?

You can easily fact check why student debt should be forgiven by examining the linked well-known sources.

Student Debt Could Be Discharged in Bankruptcy Under New House Bill.

Mark Cuban owns the domain collegedebt.com that showcases student debt in real-time. - source

The total Student Debt in the US now surpasses the total credit card debt. - source

Student loans asset-backed securitization—or SLABS—means student loan agencies package student debts and sell them to investors who expect to get their money back, plus interest, as students pay back their loans. - source

What happens to student loan debt when you die?

The US keeps a student debt clock, like the national debt clock.

How student debt affects students?

A 21 year old broke college student, who feared the burden of student loan debt, created a single page website. From it, he made $1.2 million in about 6 months.

It would cost less to forgive the ENTIRE U.S. student debt than to fund the Republican tax cuts. Why are we not funding this?

Discharging Student Loan Debt Used to be an Option

The average student debt in the United States increased by 58% in just 7 years. It rose from $17,233 in 2005 to $27,253 in 2012.

42% of Millennials have student debt. 79% of Millennials believe it's a problem that needs to be addressed in the United States.

Student debt infographics

Beautiful visual representation of Student Debt numbers and stats to get perspecive of the whole story.

student debt fact infographic about Visualization of estimated student loan debt for the next 8 — Visualization of estimated student loan debt for the next 8 years of my life

student debt fact infographic about Inequality of Student Loans; Half of the outstanding student — Inequality of Student Loans; Half of the outstanding student loan debt is held by the 12% of borrowers owing more than $60,000

When is student debt written off?

Mark Cuban owns the domain www.collegedebt.com, which publishes a live update of how much college loan debt is held by students.

The cost of college has risen 4 times faster than the rate of inflation, that the cost of higher education is higher than the cost of health care, and that there is one trillion dollars in student loan debt- more than there is credit card debt in our country.

President Obama finished paying off his student debt only 4 years before being elected POTUS

A college student racked up so much credit card debt he dropped out of college and eventually committed suicide.

Princeton students have the lowest national debt straight out of college; however, it is also one of the most expensive to attend

How student debt is bad?

US student debt has more than doubled since 2007. Total student debt is now more than $1.1 trillion.

There's a new, decentralized University that uses cryptocurrency to pay for tuition and is co-owned by the faculty and students. The school's aim is to reduce administration to keep costs low to a debt-free level.

A Chilean student destroyed $ 500 million of student debt by burning the university's tuition contracts and made an exhibition of the ashes

Today, people in their 20s, and 30s are staggering under the weight of student debt, skyrocketing home prices, lower incomes than their predecessors and the daunting costs of starting a family. They are "working and studying more to have less" in comparison to their parent's generation

In Sweden 85% of university students graduate with debt, compared to only 50% of those in the United States. The United Kingdom and Australia both have higher numbers than the US. [PDF, see page 17]

Much of the paperwork needed by debt collection companies to collect on your student debt is missing. If challenged in court and your debt could be wiped out.

Until 2005, private student loan debt could be discharged under bankruptcy. The change expanded protection to all lenders, including for-profit and non-governmental agencies. There is no companion requirement for the lender to work with those experiencing financial difficulty.

This is our collection of basic interesting facts about Student Debt. The fact lists are intended for research in school, for college students or just to feed your brain with new realities. Possible use cases are in quizzes, differences, riddles, homework facts legend, cover facts, and many more. Whatever your case, learn the truth of the matter why is Student Debt so important!