Student Loans will Exceed $1 Trillion

Two things, however, are clear. The size of student debt is vast (see chart), and lots of borrowers are struggling. More than 10m students took out loans for the latest academic year, according to a report issued on October 26th by the College Board, a consortium of academic institutions. Almost a third of students graduating from college, and 69% of the ones dropping out, hold debt tied to their education.

The total amount of debt is staggering. The New York Federal Reserve Bank puts it at $550 billion, but includes a footnote in the “technical notes” section suggesting this may be an underestimate. Sallie Mae, the school-loan equivalent of the housing industry's Fannie Mae and Freddie Mac, reckons there are $757 billion-worth of outstanding loans. A bank heavily involved in the area says there is at least another $111 billion in purely private loans, and with new lending estimated in excess of $112 billion for this year alone, the total amount outstanding will surpass $1 trillion in the not-so-distant future.


Folksonomies: academia debt student loans

/finance/personal finance/lending/student loans (0.670395)
/finance/personal finance/debt management (0.499924)
/education/graduate school/college (0.463122)

York Federal Reserve (0.903071 (neutral:0.000000)), purely private loans (0.891662 (negative:-0.568800)), Sallie Mae (0.673438 (neutral:0.000000)), Fannie Mae (0.668125 (negative:-0.377334)), student debt (0.658027 (neutral:0.000000)), Student Loans (0.613075 (negative:-0.229676)), Freddie Mac (0.596197 (negative:-0.377334)), school-loan equivalent (0.590208 (negative:-0.377334)), College Board (0.589430 (neutral:0.000000)), academic institutions (0.588175 (neutral:0.000000)), outstanding loans (0.582598 (positive:0.347495)), technical notes (0.578431 (neutral:0.000000)), housing industry (0.569446 (negative:-0.377334)), not-so-distant future (0.569211 (positive:0.467219)), new lending (0.566132 (negative:-0.231324)), students (0.343555 (negative:-0.342705)), bank (0.321283 (negative:-0.568800)), underestimate (0.320453 (neutral:0.000000)), footnote (0.314797 (neutral:0.000000)), borrowers (0.311788 (negative:-0.566124)), excess (0.285393 (negative:-0.231324)), things (0.280522 (negative:-0.229676)), ones (0.275969 (negative:-0.452202)), consortium (0.275059 (neutral:0.000000)), size (0.274424 (neutral:0.000000)), chart (0.274072 (neutral:0.000000)), report (0.272169 (neutral:0.000000))

Sallie Mae:Company (0.987635 (neutral:0.000000)), Fannie Mae:Company (0.934089 (negative:-0.377334)), New York Federal Reserve Bank:Organization (0.885721 (neutral:0.000000)), Freddie Mac:Company (0.687504 (negative:-0.377334)), College Board:Organization (0.684545 (neutral:0.000000)), $1 Trillion Two:Quantity (0.684545 (neutral:0.000000)), $111 billion:Quantity (0.684545 (neutral:0.000000)), $112 billion:Quantity (0.684545 (neutral:0.000000)), $550 billion:Quantity (0.684545 (neutral:0.000000)), $757 billion:Quantity (0.684545 (neutral:0.000000)), $1 trillion:Quantity (0.684545 (neutral:0.000000)), 10m:Quantity (0.684545 (neutral:0.000000)), 69%:Quantity (0.684545 (neutral:0.000000))

Debt (0.964015): dbpedia | freebase
Mortgage loan (0.869428): dbpedia | freebase
Federal Reserve System (0.766999): website | dbpedia | freebase | opencyc | yago
Fannie Mae (0.754843): website | dbpedia | freebase | opencyc
Central bank (0.683684): dbpedia | freebase | opencyc
Money supply (0.661260): dbpedia | freebase
Monetary policy (0.629585): dbpedia | freebase
Loan (0.569460): dbpedia | freebase | opencyc

 Nope, just debt
Periodicals>Magazine Article:  Economist, (Oct 29th 2011), Nope, just debt, Retrieved on 2015-03-08
  • Source Material []
  • Folksonomies: academia debt student loans


    08 MAR 2015

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