$1.31 trillionThe amount of outstanding student loan debt balances as of December 31, 2016, according to the Federal Reserve Bank of New York. It first exceeded $1 trillion in March 2012.
44.2 millionThe number of American borrowers who have student loan debt, according to Student Loan Hero.
$2,667.20 per secondThe amount student loan debt is increasing every second, and has been since 2006, according to MarketWatch. The site even has a handy-but-scary student loan debt clock that shows student debt amounts in real time.
Number 2The ranking of student loan debt (10%) compared to other types of consumer debt is second only to mortgages, which make up 67%. For perspective, auto loans are at 9%.
70%The percentage of students who graduate college with debt, according to MarketWatch.
$31 billionThe amount by which student loan balances increased in one quarter (third quarter to fourth quarter) in 2016.
37%The percentage of borrowers who are actually paying down their student debt, according to MarketWatch.
11.2%The percentage of student loan debt that was 90 or more days delinquent/default – just in the fourth quarter of 2016. To put this in perspective, delinquent credit card loan debt is 7%; auto loans at 4%.
$37,172The average amount a class of 2016 graduate has, according to Student Loan Hero. Note: this is 6% higher than last year.
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