Home Loans Who Owes How Much In Student Loans?

Who Owes How Much In Student Loans?

Author

Date

Category

According to the Federal Reserve, Americans owe $1.7 trillion in student loans as of September 30, 2020. Let’s break it down into who owes how much.

Of the total, nearly $1.6 trillion (92%) is federal and $133 billion is private. There are about 45.8 million borrowers who owe an average of about $37,000 each in federal and private student loans.

A total of $1.4 trillion is held by the U.S. Department of Education, including $1.32 trillion in the Direct Loan program and $86 billion in the Federal Family Education Loan Program (FFELP). There is $160 billion in FFELP loans held by banks, credit unions, state loan agencies and other financial institutions.

[Read More]

 

Linda Barbara

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum imperdiet massa at dignissim gravida. Vivamus vestibulum odio eget eros accumsan, ut dignissim sapien gravida. Vivamus eu sem vitae dui.

Recent posts

Biden: Cancel Student Loans 3 Ways

Joe Biden wants to cancel your student loans three different ways. Here’s what you need to know. President-elect Biden wants to cancel student loans immediately. Many student loan...