Student Loan Debt Statistics
In an increasingly aggressive global job market, a college education is believed to be the linchpin for students’ future success and prosperity. Indeed, it is predicted that by 2027, 70% of all employment positions in the American economy will require a college education. However, with tuition fees rising by 8% each year, graduating with a degree has become a much more significant financial hurdle than it was generations ago. Moreover, 54% of Americans say mental health issues like anxiety and depression are directly related to student loan debt. The most recent student loan debt numbers demonstrate how severe the student loan debt problem has become for borrowers of all demographics and ages. Here’s a detailed statistical overview of student loan debt in the United States from 2021 onwards.