Research Report Forever in Your Debt: Who Has Student Loan Debt, and Who's Worried?
Caroline Ratcliffe, Signe-Mary McKernan
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Outstanding student loan balances in the United States total roughly $1 trillion, with student loan debt following one of every five adults. People across the income, age, and educational attainment spectrums have student loan debt, but it is particularly concentrated in some groups. African Americans and Hispanics are about twice as likely to have student loan debt as whites. Fifty-seven percent of people with student loans are concerned that they may be unable to repay that debt. This concern cuts across demographic and economic groups but is more prevalent among people with children, with lower household incomes, and women.
Research Areas Education Wealth and financial well-being Race and equity
Tags Higher education Asset and debts Racial and ethnic disparities Racial equity in education Family credit and debt