“Sound Off” on Student Debt Survey Results U.S. Representative Karen Bass Tuesday, April 4,...
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Transcript of “Sound Off” on Student Debt Survey Results U.S. Representative Karen Bass Tuesday, April 4,...
Education and Student Debt
Successin the U.S.
Advancing Education
Post College Debt
Should Not = A Mortgage
Survey Results 1,396 people responded to the survey.
Repaying student loans is
a challenge.
Education Debt From:43% --Undergraduate24% --Graduate33% --Both
Ethnicity
Who Responded?
% Ethnicity (N=784) 28% African American 7% Asian AM/PI16% Latino .6% Native American 40% White 8% Multi-racial
School Type
Who Responded?
% Type (N=822) 51% Private (4yr) 34% Public (4yr) 3% Community College 7% Technical School 6% Both Pvt/Public
Employment Status:17% employed part-time50% employed full-time19% unemployed14% still enrolled in school
The Survey Respondents
Regardless of employment status almost everyone is having difficulty repaying their loans.
Who’s Having Difficulty? 89% of part-time employed 86% of full-time employed 95% of those who are unemployed
How Easy Is Repayment?
Title of your presentation
47% in Repayment12% delinquent 7% in default =54%
19% in deferment16% in forbearance
© your company name. All rights reserved.
54% of Those Out of School
Can’t Pay
Federal + Private Debt
Total Debt Range
Median = $50,000 Mode = $20,000
$39,000 <
$40-59,000
$60-99,000
$100k+0
102030405060708090
100
Total Debt
Federal Debt40%
15% 21% 23%
Federal vs Private Debt
Federal Debt
Median = $38,000 Mode = $20,000
$39,000 <
$40-59,000
$60-99,000
$100k+0
20406080
100
Federal Debt
Private Debt Median = $25,000 Mode = $10,000
$39,000 <
$40-59,000
$60-99,000
$100k+0
20406080
100
Federal Debt
63%
51%
71% reported that interest accumulated
while they were “in” school
Interest Rates Vary
Interest Rate % of Respondents• 4% or < 24%• 5-7% 37%• 7-9% 32%• 10% or + 8%
Places Where People Sought Help:
71% Dept of Education25% Their Lender 7% Their School18% Their Family32% Have NOT Sought Help
Help Sought?