According to Make Lemonade, a personal finance company, with its “The State of Student Loan Debt In 2017 Report,’ student loan debt grew $31 billion in the last three months of 2016. New delinquent balances (30+ days) were $32.6 billion and seriously delinquent (90+ days) was $31 billion.
New Hampshire has the highest average student loan debt per student ($36,101) from the Class of 2015.
Utah has the lowest average student loan debt per student ($18,873) from the Class of 2015.
In the U.S., the average student loan debt per capita is $4,920. Pennsylvania, New York and Michigan have among the highest student loan debt per capita in the nation.
As of 2015, more than 42 million student loan borrowers have student loan debt of $100,000 or less.
More than 2 million student loan borrowers have student loan debt greater than $100,000, with 415,000 of that total holding student loan debt greater than $200,000.
The largest concentration of student loan debt is $10,000 – $25,000, which accounts for 12.4 million student loan borrowers.
Other Important Student Loan Debt Statistics in the Make Lemonade report include:
Nearly seven in 10 seniors (68%) who graduated from public and non-profit colleges in 2015 had student loan debt.
Almost half (47%) of private loan borrowers in 2011-12 borrowed less than they could have in federal Stafford loans for college.
While private loan volume peaked at $18.1 billion in 2007-2008, private loan volume is now $7.8 billion as of 2014-2015. 6% of all undergraduates – 1,373,000 students – borrowed private loans in 2011-12.
Make Lemonade is a free personal finance website that offers tips, tools and unbiased reviews to find you the lowest rates and best deals on your student loans, personal loans, investing, banking, credit cards, mortgages and more.