US Student Loan Debt Reaches $1.31-T

US Student Loan Debt Reaches $1.31-T

US Student Loan Debt Reaches $1.31-T

Student loan debt in the United States stands at $1.31-T, far more than Americans’ total outstanding credit card balance of $779-B.

The Federal Reserve Bank of New York calculated the numbers and released a report that includes debt data through the end of 2016.

Other Key figures in the report, as follows:

  1. Student loan balances increased by $31-B from the 3rd to the 4th Quarter in Y 2016.
  2. 11.2% of student loan debt was 90 plus days delinquent or in default by year’s end.
  3. Credit card balances increased by $32-B from the 3rd to the 4th Quarter in Y 2016.
  4. 7.1% of credit card debt was 90 plus days delinquent by the end of the year.
  5. Total household debt increased by $226-B from the 3rd to the 4th Quarter and now stands at $12.58-B.
  6. 4.8% of all outstanding debt was in some stage of delinquency.

Given those numbers, the Y 2015 national wage average was $48,098.63. That marked a 3.48% increase from Y 2014, according to the Social Security Administration.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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