• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Nexo

American Students More Burdened by Debt Than Ever Before

Bitcoinist by Bitcoinist
4 years ago
in Bitcoin, Bitcoin Businesses
0

College education is expensive, whether you’re going for your bachelor’s degree or your master’s degree. And these days, American students are more burdened by student loan debt than ever before. While there are more affordable options, such as online schools that offer a wide array of programs, from an online MBA to an online homeland security program, taking out loans to pay for higher education has put young adults in debt before they even have a chance to start working.  

A Look at Some Numbers

To really understand just how burdened American students are with debt, you need to look at some statistics. First off, as of 2016, the typical college graduate has an average of $37,172 in debt from student loans. This is an increase of 6% from 2015.

The total student loan debt in the country is roughly $1.26 trillion, with 43.3 million people dealing with student loan debt. On top of that, 11.6% of students are dealing with loan delinquency. And the median student loan payment each month for those who are between the ages of 20 and 30 is $203.

Debt associated with private student loans, in particular, is also increasing. While $5.5 billion was borrowed from 2011-2012, $6.2 billion was the amount borrowed in 2012-2013.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A Look at Loan Programs and Their Debt

There are different types of loan programs and different types of loans that American students can receive if they wish to attend college for a degree. And to get an idea of what the debt really is, you need to look at the breakdown of the number of borrowers and how much total debt there is.

For example, Perkins Loans have been taken out by 2.7 million borrowers, for a total of $8 billion, while FFEL Loans are used by 16.8 million borrowers, and it amounts to $342.6 billion. But 30.5 million borrowers have Direct Loans that amount to a total debt of $911.6 billion.

A Look at Graduate Student Loan Debt 

Undergraduate students aren’t the only ones who are burdened by student loan debt, as those seeking graduate degrees are also forced to take out student loans in order to afford the programs that will give them the skills that they need to advance their careers and ask for a higher salary.

In 2016, roughly 40% of the total $1 trillion in student loan debt was actually used to pay for professional degrees and graduate degrees. A law degree, for example, would create $140,616 in debt, while an MBA would result in $42,000 in debt. Medical and health sciences degrees result in a whopping $161,772 in debt, while a Master of Education degree results in $50,879 in debt.

While many Americans deal with debt, student loan debt, in particular, is a growing problem that’s causing a lot of concerns. As the cost of higher education continues to climb across the country, more students are seeking more affordable ways of getting the education they need, and they’re often turning to public universities and online degree programs as a result.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.