General Discussion

Celerity

(43,318 posts)

12. Total Student Loan Debt: $1.56 trillion

Tue Apr 23, 2019, 11:15 AM

Apr 2019

FAR more than total credit card debt

https://www.forbes.com/sites/zackfriedman/2019/02/25/student-loan-debt-statistics-2019/#21ee661d133f

Student loan debt in 2019 is the highest ever.

The latest student loan debt statistics for 2019 show how serious the student loan debt crisis has become for borrowers across all demographics and age groups. There are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt in the U.S. alone. Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans. Borrowers in the Class of 2017, on average, owe $28,650, according to the Institute for College Access and Success.

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Public Service Loan Forgiveness Statistics

As of September 30, 2018, here are the latest public service student loan debt statistics:

Public Service Loan Forgiveness cumulative borrowers: 890,516

Borrowers who submitted applications: 41,221

Total number of applications: 49,669

Number of applications approved: 423

Number of applications denied: 32,409

Number of applications denied due to missing information: 11,892

Borrowers who have received student loan forgiveness: 206

Total dollar amount forgiven: $12.3 million

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Forgiving Student Loans..... [View all] global1 Apr 2019 OP

I know that this would help people in going to college, but I have some serious concerns about ... SWBTATTReg Apr 2019 #1

I struggle with understanding the logic of "I had to work my ass off, other people should too" for WhiskeyGrinder Apr 2019 #5

Sure, why don't you work your ass off like I did, both to survive and also pay for school. I am ... SWBTATTReg Apr 2019 #6

I apologize for distilling your post into something you didn't feel was representative of your WhiskeyGrinder Apr 2019 #10

Good grades, attendence, common sense stuff to ensure that value given is value rec'd ... SWBTATTReg Apr 2019 #13

None, other than income-based formulas for forgiveness. WhiskeyGrinder Apr 2019 #21

Yes, this would be good. There are a lot of good kids that simply can't afford the cost to... SWBTATTReg Apr 2019 #22

I'm not hung up on "good" grades or "good attendance." Colleges have minimum acceptance and WhiskeyGrinder Apr 2019 #23

"those that get a free ride appreciate it"... tenderfoot Apr 2019 #11

But those damn kids should work their way like I did! Mariana Apr 2019 #19

What makes you think other people don't "work their ass off" just because you did? Rambling Man Apr 2019 #42

I never that others don't work their ass off too. Never did. Don't put words into my post. SWBTATTReg Apr 2019 #49

Did your college teach you that movies are just like real life? kcr Apr 2019 #17

Good one! Caliman73 Apr 2019 #44

The vast majority of kids are not living an experience like you describe Cal Carpenter Apr 2019 #38

Me too. Student loans are obscene these days and only serve gtar100 Apr 2019 #2

Yep kerry-is-my-prez Apr 2019 #36

Who profits from it? former9thward Apr 2019 #39

Colleges and the Federal government MichMan Apr 2019 #40

Maybe we should put a max on student loans. former9thward Apr 2019 #41

Start here... Wall Street gtar100 Apr 2019 #43

The Feds are the lender for Student Loans for the last 10 years MichMan Apr 2019 #48

I don't think the loans themselves should be forgiven NYMinute Apr 2019 #3

This is probably the best option; interest free with easy deferment Amishman Apr 2019 #20

This seems more reasonable to me. Freethinker65 Apr 2019 #28

This is my stance also. Ferrets are Cool Apr 2019 #35

I don't consider it a slap in the face. I've paid my student loans off and gtar100 Apr 2019 #45

Is not slapping someone in the face a slap in the face Recursion Apr 2019 #46

You have a point there. nt NYMinute Apr 2019 #47

Can they be given tax credits? delisen Apr 2019 #55

Can I get a refund for all the cash we spent putting our child through university without a loan? BSdetect Apr 2019 #4

I'd like a refund for the loan I paid back. ooky Apr 2019 #7

And let's add the lost opportunity costs too, thanks. BSdetect Apr 2019 #8

Good thinking. ooky Apr 2019 #9

Want a refund on all your groceries too because of WIC? kcr Apr 2019 #18

Well put. /nt tonedevil Apr 2019 #25

Total Student Loan Debt: $1.56 trillion Celerity Apr 2019 #12

if we provide free college for everyone, maybe. Tech Apr 2019 #14

There are lots of benefits and freebies not available or applicable to me gratuitous Apr 2019 #15

I'm all for forgiving student loans. MissB Apr 2019 #16

Forgiving Federal Student Loans Is Doable... clementine613 Apr 2019 #24

Low interest student loans. Cold War Spook Apr 2019 #26

I only borrowed between $45-$50k in grad school loans. smirkymonkey Apr 2019 #27

This. A thousand times. neeksgeek Apr 2019 #31

You get it. But so many people don't. They don't understand how so many well smirkymonkey Apr 2019 #32

I believe this is what Republicans want to see. neeksgeek Apr 2019 #50

I'm not with this - I know MANY students who poo pooed the idea of community college for 2 years UniteFightBack Apr 2019 #29

The US is severely weakened by indebted young people who are appalachiablue Apr 2019 #30

As someone who still has SL this would be a great boost to our discretionary spending demtenjeep Apr 2019 #33

not to mention-our district has frozen teacher pay for 8 years demtenjeep Apr 2019 #34

Eventually this will blow up in all of our faces. The economy cannot handle large #'s of people kerry-is-my-prez Apr 2019 #37

Exactly. nt neeksgeek Apr 2019 #51

people should be asking for an accounting Mosby Apr 2019 #52

My husband lost his job after 31 years we are now samplegirl Apr 2019 #53

Those who have squeezed themselves to pay their loans can be given delisen Apr 2019 #54

I'm for a flat tax for people that get student grants and loans. Opel_Justwax Apr 2019 #56

You don't benefit from living in an educated society? ret5hd Apr 2019 #57