Nation’s Student Loan Debts On the Rise

Student loan debt has continued to pile up throughout the nation, and, unfortunately, this has come with an increase in the amount of debt that has fallen into delinquency. This, according to credit monitoring agency Experian.

Experian analyzed internal second quarter 2019 data and data from the U.S. Department of Education to see how people are managing their student loans. U.S. student loan debt has now surpassed the $1.4 trillion mark with the average balance at $35,620.

Those between the ages of 25 and 34 have the most student loan debt, at a total of $454.6 billion.

Borrowers ages 35 to 49 have seen the largest increase in their student debt from the previous year, increasing by $45.9 billion, and people in this same age group, 35 to 49, carry the highest loan delinquency balances with a total of $15.5 billion that is 31 to 90 days delinquent.

For more information please visit https://www.experian.com/blogs/ask-experian/research/student-loan-debt-delinquency-by-age/