Do we have real-world data to line up with these student debt numbers? What percentage of students who graduate with a bachelor’s degree fit into each of these “amount of debt” slices? I see “average” debt numbers tossed around, but breaking down the total population into slices would be more informative.
I know we’re still leaving out people who do not attain a bachelor’s degree after one or more years of college, but it would be a start.
uomattersPost author | 04/18/2015
For 2012-13, 49% of UO students had debt, and the average amount for those having debt was $24,540. So the overall average is about $12,250.
I don’t know how this accounts for the debt of students who don’t graduate, which is the most serious problem. Probably they are in these averages.
On a national scale, the most relevant real world result is what is directly stated on that data site:
Seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2013 had student loan debt, with an average of $28,400 per borrower. This represents a two percent increase from the average debt of 2012 public and nonprofit graduates.
charlie
04/18/2015
The most serious issue is the debt load, it’s the amount of student loan defaults taking place. One thing to say you’re not worried about debt prior to incurring it, a whole different thing when you have it and can’t pay it. Read this first, before looking at the charts:
“As explained in a recent blog post, delinquency rates for student loans are likely to understate actual delinquency rates because almost half of these loans are currently in deferment or in grace periods and therefore temporarily not in the repayment cycle. Among loans in the repayment cycle, delinquency rates are roughly twice as high”
As of Q1 of 2012, the amount of student loans 90+ in delinquent was approximately 16%. If we take the New York Fed’s admonishment, the actual numbers are over 30%. That was nearly three years ago, I have to say that the problems have gotten far worse. The issue isn’t what amount of debt you take on, it’s whether you can pay it back. If a uni has any integrity, it would make all potential admits read the latest data on loan defaults, and also show them this:
As of now, 22 states will revoke a drivers license due to student loan defaults, including CA. As my high school students are fond of saying, “Shit is getting real if I can’t get a license.”
Do we have real-world data to line up with these student debt numbers? What percentage of students who graduate with a bachelor’s degree fit into each of these “amount of debt” slices? I see “average” debt numbers tossed around, but breaking down the total population into slices would be more informative.
I know we’re still leaving out people who do not attain a bachelor’s degree after one or more years of college, but it would be a start.
For 2012-13, 49% of UO students had debt, and the average amount for those having debt was $24,540. So the overall average is about $12,250.
I don’t know how this accounts for the debt of students who don’t graduate, which is the most serious problem. Probably they are in these averages.
From http://ticas.org/posd/map-state-data-2014#overlay=posd/state_data/2014/or
“Americans think …” – surely you jest
On a national scale, the most relevant real world result is what is directly stated on that data site:
Seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2013 had student loan debt, with an average of $28,400 per borrower. This represents a two percent increase from the average debt of 2012 public and nonprofit graduates.
The most serious issue is the debt load, it’s the amount of student loan defaults taking place. One thing to say you’re not worried about debt prior to incurring it, a whole different thing when you have it and can’t pay it. Read this first, before looking at the charts:
“As explained in a recent blog post, delinquency rates for student loans are likely to understate actual delinquency rates because almost half of these loans are currently in deferment or in grace periods and therefore temporarily not in the repayment cycle. Among loans in the repayment cycle, delinquency rates are roughly twice as high”
Source, FRBNY
Charts:
http://www.newyorkfed.org/studentloandebt
As of Q1 of 2012, the amount of student loans 90+ in delinquent was approximately 16%. If we take the New York Fed’s admonishment, the actual numbers are over 30%. That was nearly three years ago, I have to say that the problems have gotten far worse. The issue isn’t what amount of debt you take on, it’s whether you can pay it back. If a uni has any integrity, it would make all potential admits read the latest data on loan defaults, and also show them this:
http://www.mainstreet.com/article/defaulted-student...
As of now, 22 states will revoke a drivers license due to student loan defaults, including CA. As my high school students are fond of saying, “Shit is getting real if I can’t get a license.”