{"id":71653,"date":"2023-04-03T06:45:25","date_gmt":"2023-04-03T10:45:25","guid":{"rendered":"https:\/\/www.businesspundit.com\/?p=71653"},"modified":"2023-04-03T12:47:47","modified_gmt":"2023-04-03T16:47:47","slug":"student-loan-debt-crisis","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/student-loan-debt-crisis\/","title":{"rendered":"The Student Loan Debt Crisis By the Numbers"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1200\" height=\"675\" data-src=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis.png\" alt=\"Student Loan Debt Crisis\" class=\"wp-image-71657 lazyload\" data-srcset=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis.png 1200w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis-300x169.png 300w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis-600x338.png 600w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis-768x432.png 768w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis-364x205.png 364w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/05\/student-loans-crisis-758x426.png 758w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1200px; --smush-placeholder-aspect-ratio: 1200\/675;\" \/><\/figure>\n\n\n\n<p>Over 43 million people in the US are in student loan debt. Collectively, they owe a staggering total of $1.26 trillion. The average monthly payment on a student loan debt is $351 for borrowers between 20 and 30 years old.&nbsp;<\/p>\n\n\n\n<p>Infographic by Money Goody.<br><br><a href=\"https:\/\/moneygoody.com\/student-loan-debt-infographic\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" data-src=\"https:\/\/moneygoody.com\/wp-content\/uploads\/2016\/09\/Student-Loan-Debt-Statstics-Infographic.jpg\" alt=\"Student Loan Debt Statistics\" width=\"640px\" border=\"0\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\"><\/a><\/p>\n\n\n\n<p>The class of 2016 college graduates, on average, still owe $37,172 in student loan debt. Over 11% of student loans fall into delinquency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Public vs Private Colleges<\/h3>\n\n\n\n<p><strong>In 2012:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>66% of graduates from public colleges had student loans with an average debt of $25,550.<\/li><li>75% of graduates from private nonprofit colleges had student loans with an average debt of $32,300.<\/li><li>88% of graduates from for-profit colleges had student loans with an average debt of $39,950.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Graduate School Debt<\/h3>\n\n\n\n<p>Over 40% of student loan debt paid for graduate and professional degrees. These debts are even larger.<\/p>\n\n\n\n<p><strong>Graduates of:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>MBA programs typically owe $42,000 in student loan debt.<\/li><li>Master of Science programs typically owe $50,400 in student loan debt.<\/li><li>Master of Education programs typically owe $50,879 in student loan debt.<\/li><li>Master of Arts programs typically owe $58,539 in student loan debt.<\/li><li>Law school typically owe $140,616 in student loan debt.<\/li><li>Medicine and Health Sciences programs typically owe $161,772 in student loan debt.&nbsp;<\/li><\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over 43 million people in the US are in student loan debt. Collectively, they owe a staggering total of $1.26 trillion. <\/p>\n","protected":false},"author":74,"featured_media":77801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,1446],"tags":[],"class_list":{"0":"post-71653","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-education"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/71653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=71653"}],"version-history":[{"count":5,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/71653\/revisions"}],"predecessor-version":[{"id":71659,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/71653\/revisions\/71659"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/77801"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=71653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=71653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=71653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}