The average consumer debt balance in the United States has peaked in 2023 at roughly 104,200 U.S. dollars. However, average consumer debt had decreased between 2010 and 2013, when it reached approximately 85,500 U.S. dollars. Here, consumer debt refers to student and car loans, credit cards, personal loans, mortgages, and other types of debt.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

Federal Reserve Board of New York provides quarterly Household Debt in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Further information about United States Household Debt

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

In 2023, the generation X was the age group with the highest amount of auto loan debt in the United States. That group had on average a car loan debt of roughly 27,100 U.S. dollars. Meanwhile, the silent generation had the lowest amount of auto loan debt, amounting to approximately 16,050 U.S. dollars.

The generation X was the group of people with the highest average credit card balance in the United States in 2023. That year, the average credit card debt of the generation Z amounted to approximately 3,260 U.S. dollars. People in the silent generation had a credit card balance of roughly 3,410 U.S. dollars.

The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to ****** U.S. dollars in 2023. While respondents had ****** U.S. dollars of debt in 2018, that volume decreased to ****** U.S. dollars in 2019, which constituted the largest year-over-year decrease.What age groups are more indebted in the U.S.?The age group with the highest level of consumer debt in the U.S. was belonging to the Generation X with approximately ******* U.S. dollars of debt in 2022. The next generations with high consumer debt levels were baby boomers and millennials, whose debt levels were similar. In comparison, credit card debt is more equally distributed across all ages. There is an exception among people under 35 years old, who are significantly less burdened with credit card debt. However, most consumers expect to get rid of their debt in the short term. College expenses as a source of debtEducational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ** percent of the total. However, around ** percent of undergraduates from lower-income families had student loans, while over a fifth of undergraduates from higher-income families had student loans. Independently of how they cover these expenses, the confidence of students and parents about being able to pay these college costs was high in most cases.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q1 2025 about disposable, payments, debt, personal income, percent, personal, households, services, income, and USA.

Key information about United States Household Debt: % of GDP

• United States household debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 62.3 % in the previous quarter.
• US household debt to GDP ratio is updated quarterly, available from Mar 1999 to Dec 2024.
• The data reached an all-time high of 85.8 % in Dec 2008 and a record low of 49.4 % in Mar 1999.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Federal Reserve Board of New York provides Household Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Related information about United States Household Debt: % of GDP

• In the latest reports, US Household Debt reached 18,036.0 USD bn in Dec 2024.
• Money Supply M2 in US increased 3.9 % YoY in Jan 2025.
• US Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024.
• US Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.7 % in Dec 2024, compared with the ratio of 1.5 % in the previous quarter.

As of the last quarter of 2022, Alaska and Hawaii were the states in the U.S. with the highest credit card debt. While the average credit card debt in Alaska amounted to 4,430 U.S. dollars, people from Mississippi only had on average 2,450 U.S. dollars of credit card debt.

In 2023, outstanding auto loan debt in the United States reached a value of 1.51 trillion U.S. dollars. The overall value of car loan debt in 2019 amounted to 1.21 trillion U.S. dollars, showing an increase of approximately 300 billion U.S. dollars in three years.

Graph and download economic data for Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks (DRSFRMACBS) from Q1 1991 to Q1 2025 about domestic offices, delinquencies, 1-unit structures, mortgage, family, residential, commercial, domestic, banks, depository institutions, rate, and USA.

Credit card debt in the United States has been growing at a fast pace between 2021 and 2025. In the fourth quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from *** billion U.S. dollars in the last quarter of 2019 to *** billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2025. That year, the penetration rate of credit cards in the United States was ** percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2024, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.

In the third quarter of 2024, household debt in the United States amounted to over 71.66 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2023, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

Graph and download economic data for Personal Saving Rate (PSAVERT) from Jan 1959 to May 2025 about savings, personal, rate, and USA.

This dataset consists of a selection of variables extracted from the U.S. Department of Education's College Scorecard 2015/2016. For the original, raw data visit the College Scorecard webpage. This dataset includes variables about institution types, proportion of degree types awarded, student enrollments and demographics, and a number of price and revenue variables. For 2005-2006 data, see here.Note: Data is not uniformly available for all schools on all variables. Variables for which there is no data (NULL), or where data is suppressed for reasons of privacy, are indicated by 999999999.

ATTRIBUTE DESCRIPTION EXAMPLE

ID2 1

UNITIDUnit ID for institution 100654

OPEID 8-digit OPE ID for institution 100200

OPEID6 6-digit OPE ID for institution 1002

State FIPS

1

State

AL

Zip

35762

City

Normal

Institution Name

Alabama A & M University

Institution Type 1 Public 2 Private nonprofit 3 Private for-profit 1

Institution Level 1 4-year 2 2-year 3 Less-than-2-year 1

In Operation 1 true 0 false 1

Main Campus 1 true 0 false 1

Branches Count of the number of branches 1

Popular Degree 1 Predominantly certificate-degree granting 2 Predominantly associate's-degree granting 3 Predominantly bachelor's-degree granting 4 Entirely graduate-degree granting 3

Highest Degree 0 Non-degree-granting 1 Certificate degree 2 Associate degree 3 Bachelor's degree 4 Graduate degree 4

PCIP01 Percentage of degrees awarded in Agriculture, Agriculture Operations, And Related Sciences. 0.0446

PCIP03 Percentage of degrees awarded in Natural Resources And Conservation. 0.0023

PCIP04 Percentage of degrees awarded in Architecture And Related Services. 0.0094

PCIP05 Percentage of degrees awarded in Area, Ethnic, Cultural, Gender, And Group Studies. 0

PCIP09 Percentage of degrees awarded in Communication, Journalism, And Related Programs. 0

PCIP10 Percentage of degrees awarded in Communications Technologies/Technicians And Support Services. 0.0164

PCIP11 Percentage of degrees awarded in Computer And Information Sciences And Support Services. 0.0634

PCIP12 Percentage of degrees awarded in Personal And Culinary Services. 0

PCIP13 Percentage of degrees awarded in Education. 0.1268

PCIP14 Percentage of degrees awarded in Engineering. 0.1432

PCIP15 Percentage of degrees awarded in Engineering Technologies And Engineering-Related Fields. 0.0587

PCIP16 Percentage of degrees awarded in Foreign Languages, Literatures, And Linguistics. 0

PCIP19 Percentage of degrees awarded in Family And Consumer Sciences/Human Sciences. 0.0188

PCIP22 Percentage of degrees awarded in Legal Professions And Studies. 0

PCIP23 Percentage of degrees awarded in English Language And Literature/Letters. 0.0235

PCIP24 Percentage of degrees awarded in Liberal Arts And Sciences, General Studies And Humanities. 0.0423

PCIP25 Percentage of degrees awarded in Library Science. 0

PCIP26 Percentage of degrees awarded in Biological And Biomedical Sciences. 0.1009

PCIP27 Percentage of degrees awarded in Mathematics And Statistics. 0.0094

PCIP29 Percentage of degrees awarded in Military Technologies And Applied Sciences. 0

PCIP30 Percentage of degrees awarded in Multi/Interdisciplinary Studies. 0

PCIP31 Percentage of degrees awarded in Parks, Recreation, Leisure, And Fitness Studies. 0

PCIP38 Percentage of degrees awarded in Philosophy And Religious Studies. 0

PCIP39 Percentage of degrees awarded in Theology And Religious Vocations. 0

PCIP40 Percentage of degrees awarded in Physical Sciences. 0.0188

PCIP41 Percentage of degrees awarded in Science Technologies/Technicians. 0

PCIP42 Percentage of degrees awarded in Psychology. 0.0282

PCIP43 Percentage of degrees awarded in Homeland Security, Law Enforcement, Firefighting And Related Protective Services. 0.0282

PCIP44 Percentage of degrees awarded in Public Administration And Social Service Professions. 0.0516

PCIP45 Percentage of degrees awarded in Social Sciences. 0.0399

PCIP46 Percentage of degrees awarded in Construction Trades. 0

PCIP47 Percentage of degrees awarded in Mechanic And Repair Technologies/Technicians. 0

PCIP48 Percentage of degrees awarded in Precision Production. 0

PCIP49 Percentage of degrees awarded in Transportation And Materials Moving. 0

PCIP50 Percentage of degrees awarded in Visual And Performing Arts. 0.0258

PCIP51 Percentage of degrees awarded in Health Professions And Related Programs. 0

PCIP52 Percentage of degrees awarded in Business, Management, Marketing, And Related Support Services. 0.1479

PCIP54 Percentage of degrees awarded in History. 0

Admission Rate

0.6538

Average RetentionRate of retention averaged between full-time and part-time students. 0.4428

Retention, Full-Time Students

0.5779

Retention, Part-Time Students

0.3077

Completion Rate

0.1104

Enrollment Number of enrolled students 4505

Male Students Percentage of the student body that is male. 0.4617

Female Students Percentage of the student body that is female. 0.5383

White Percentage of the student body that identifies as white. 0.034

Black Percentage of the student body that identifies as African American. 0.9216

Hispanic Percentage of the student body that identifies as Hispanic or Latino. 0.0058

Asian Percentage of the student body that identifies as Asian. 0.0018

American Indian and Alaskan Native Percentage of the student body that identifies as American Indian or Alaskan Native. 0.0022

Native Hawaiian and Pacific Islander Percentage of the student body that identifies as Native Hawaiian or Pacific islander. 0.0018

Two or More Races Percentage of the student body that identifies as two or more races. 0

Non-Resident Aliens Percentage of the student body that are non-resident aliens. 0.0062

Race Unknown Percentage of the student body for whom racial identity is unknown. 0.0266

Percent Parents no HS Diploma Percentage of parents of students whose highest level of education is less than high school. 0.019298937

Percent Parents HS Diploma Percentage of parents of students whose highest level of education is high school 0.369436786

Percent Parents Post-Secondary Ed. Percentage of parents of students whose highest level of education is college or above. 0.611264277

Title IV Students Percentage of student body identified as Title IV 743

HCM2 Cash Monitoring Schools identified by the Department of Ed for Higher Cash Monitoring Level 2 0

Net Price

13435

Cost of Attendance

20809

In-State Tuition and Fees

9366

Out-of-State Tuition and Fees

17136

Tuition and Fees (Program) Tuition and fees for program-year schools NULL

Tution Revenue per Full-Time Student

9657

Expenditures per Full-Time Student

7941

Average Faculty Salary

7017

Percent of Students with Federal Loan

0.8159

Share of Students with Federal Loan

0.896382157

Share of Students with Pell Grant

0.860906217

Median Loan Principal Amount upon Entering Repayment

14600

Median Debt for Completed Students Median debt for student who completed a course of study 35000

Median Debt for Incompleted Students Median debt for student who did not complete a course of study 9500

Median Debt for Family Income $0K-$30K Median debt for students of families with less thank $30,000 income 14457

Median Debt for Family Income $30K-$75K Median debt for students of families with $30,000-$75,000 income 15000

Median Debt for Family Income over $75K Median debt for students of families with over $75,000 income 14250

Median Debt Female Students

16000

Median Debt Male Students

13750

Median Debt 1st Gen. Students Median debt for first generation college student 14307.5

Median Debt Not 1st Gen. Students Median debt for not first generation college students 14953

Cumulative Loan Debt Greater than 90% of Students (90th Percentile)

48750

Cumulative Loan Debt Greater than 75% of Students (75th Percentile)

32704

Cumulative Loan Debt Greater than 25% of Students (25th Percentile)

5500

Cumulative Loan Debt Greater than 10% of Students (10th Percentile)

3935.5

Accrediting Agency

Southern Association of Colleges and Schools Commission on Colleges

Website

www.aamu.edu/

Price Calculator

www2.aamu.edu/scripts/netpricecalc/npcalc.htm

Latitude

34.783368

Longitude

-86.568502

Despite a short period of decrease after the burst of the U.S. housing bubble and the global financial crisis, the total amount of mortgage debt in the United States has been on the rise in recent years. In 2024, the mortgage debt amounted to 20.83 trillion U.S. dollars, up from 13.5 trillion U.S. dollars a decade ago. Which factors impact the amount of mortgage debt? One of the most important factors responsible for the growth of mortgage debt is the number of home sales: The more home transactions, the more mortgages are sold, adding to the volume of debt outstanding. Additionally, as house prices increase, so does the gross lending and debt outstanding. On the other hand, high numbers of housing unit foreclosures and mortgage debt restructuring and short-sales can reduce mortgage debt. Which property type has the largest share of the mortgage market? The total mortgage debt includes different property types, such as one-to-four family residential, multifamily residential, commercial, and farm, but the overwhelming share of debt can be attributed to mortgage debt one-to-four family residences.

Third Party Outsource Financial Collection Agency Services Market Outlook 2032

The global third party outsource financial collection agency services market size was USD XX Billion in 2023 and is projected to reach USD XX Billion by 2032, expanding at a CAGR of XX % during 2024–2032. The market growth is attributed to the rising demand efficient det recovery solutions.



The increasing demand for third-party outsource financial collection agency services is reshaping the market. These services are becoming an integral part of the financial sector, offering a strategic approach to debt recovery and credit management. The growing trend of outsourcing collection activities to specialized agencies is driven by the need for businesses to focus on their core competencies, while ensuring efficient and effective debt recovery.

The rising need for cost reduction, improved efficiency, and the ability to leverage the expertise of specialized agencies. These agencies employ advanced technologies and proven strategies to recover debts, thereby enhancing the financial health of businesses. The opportunity for businesses to improve their bottom line, while ensuring compliance with regulatory requirements, is further fueling the demand for third-party outsource financial collection agency services.

Impact of Artificial Intelligence (AI) on Third Party Outsource Financial Collection Agency Services Market

Artificial Intelligence has a positive impact on the third party outsource financial collection agency services market. It streamlines the collection process, enhances customer service, and improves compliance. AI-driven technologies, such as machine learning and predictive analytics, enable agencies to analyze vast amounts of data, identify patterns, and make accurate predictions. This capability allows for a more targeted approach to debt collection, thus increasing efficiency and success rates.



AI-powered chatbots and virtual assistants provide round-the-clock customer service, answering queries and guiding debtors through the repayment process. This not only improves customer experience but also reduces operational costs. Additionally, AI helps agencies maintain compliance with regulations by automating the monitoring and reporting processes, thereby reducing the risk of human error.

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Denmark, the Netherlands, and Norway were among the European countries with most indebted households in 2023 and 2024. The debt of Dutch households amounted to *** percent their disposable income in the 2nd quarter of 2024. Meanwhile, Norwegian households' debt represented *** percent of their income in the 3rd quarter of 2023. However, households in most countries were less indebted, with that ratio amounting to ** percent in the Euro area. Less indebtedness in Western and Northern Europe There were several European countries where household's debts outweighed their disposable income. Most of those countries were North or West European. However, the indebtedness ratio in Denmark has been decreasing during the past decade. As the debt of Danish households represented nearly *** percent in the last quarter of 2014, which has fallen very significantly by 2024. Other countries with indebted households have been following similar trends. The households' debt-to-income ratio in the Netherlands has also fallen from over *** percent in 2013 to *** percent in 2024. Debt per adult in Europe In Europe, the value of debt per adult varies considerably from an average of around 10,000 U.S. dollars in Europe to a much higher level in certain countries such as Switzerland. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Following the drastic increase directly after the COVID-19 pandemic, the delinquency rate started to gradually decline, falling below *** percent in the second quarter of 2023. In the second half of 2023, the delinquency rate picked up, but remained stable throughout 2024. In the first quarter of 2025, **** percent of mortgage loans were delinquent. That was significantly lower than the **** percent during the onset of the COVID-19 pandemic in 2020 or the peak of *** percent during the subprime mortgage crisis of 2007-2010. What does the mortgage delinquency rate tell us? The mortgage delinquency rate is the share of the total number of mortgaged home loans in the U.S. where payment is overdue by 30 days or more. Many borrowers eventually manage to service their loan, though, as indicated by the markedly lower foreclosure rates. Total home mortgage debt in the U.S. stood at almost ** trillion U.S. dollars in 2024. Not all mortgage loans are made equal ‘Subprime’ loans, being targeted at high-risk borrowers and generally coupled with higher interest rates to compensate for the risk. These loans have far higher delinquency rates than conventional loans. Defaulting on such loans was one of the triggers for the 2007-2010 financial crisis, with subprime delinquency rates reaching almost ** percent around this time. These higher delinquency rates translate into higher foreclosure rates, which peaked at just under ** percent of all subprime mortgages in 2011.