Graph and download economic data for Student Loans Owned and Securitized (DISCONTINUED) (SLOAS) from Q1 2006 to Q4 2024 about student, securitized, owned, loans, and USA.

According to a survey conducted in 2022, Black women were the most likely demographic to have student loan debt in the United States, with 43.4 percent of Black women who had attended some college or higher reporting a student loan balance. In comparison, 24.1 percent of Hispanic women and 19.9 percent of White women in the United States with at least some college or higher had student loan debt in 2022.

Debt Balance Student Loans in the United States increased to 1.63 Trillion USD in the first quarter of 2025 from 1.62 Trillion USD in the fourth quarter of 2024. This dataset includes a chart with historical data for the United States Debt Balance Student Loans.

Graph and download economic data for Federal Government; Consumer Credit, Student Loans; Asset, Level (FGCCSAQ027S) from Q4 1945 to Q4 2024 about student, IMA, consumer credit, federal, assets, loans, government, consumer, and USA.

In 2024, the generation Z in the United States had an average of roughly 22,950 U.S. dollars in student loan debt. By contrast, Generation X had the highest student loan debt, amounting to approximately 44,240 U.S. dollars. The value of outstanding student loans has been consistently rising over the past few decades.

Cambodia: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Cambodia from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Statistics on student debt, including the average debt at graduation, the percentage of graduates who owed large debt at graduation and the percentage of graduates with debt who had paid it off at the time of the interview, are presented by the province of study and the level of study. Estimates are available at five-year intervals.

China: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for China from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

In 2024, students graduating from English universities will have incurred an average of 48,470 British pounds of student loan debt, compared with 37,360 pounds in Wales, 25,730 pounds in Northern Ireland, and around 16,680 pounds in Scotland.

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

• 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

Costa Rica: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Costa Rica from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Guatemala: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Guatemala from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

In 2022, the student loan default rate in the United States was highest for Black borrowers, at 34.4 percent. In comparison, Asian borrowers were least likely to default on their student loans.

The Comoros: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for the Comoros from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Guyana: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Guyana from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Mexico: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Mexico from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

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Debt Settlement Market Size 2024-2028

The debt settlement market size is forecast to increase by USD 5.07 billion at a CAGR of 10.3% between 2023 and 2028.

The market is experiencing significant growth due to the increasing trend of consumers seeking relief from mounting credit card debts. One-time debt settlement has gained popularity as an effective solution for individuals looking to reduce their outstanding debt balances. However, the time-consuming nature of negotiations between debtors and creditors poses a challenge for market expansion. Despite this, the market's strategic landscape remains favorable for companies offering debt settlement services. Key drivers include the rising number of consumers struggling with debt, increasing awareness of debt settlement as a viable debt relief option, and the growing preference for affordable and flexible debt repayment plans.
Companies seeking to capitalize on market opportunities should focus on streamlining the negotiation process, leveraging technology to enhance customer experience, and building trust and transparency with clients. Effective operational planning and strategic partnerships with creditors can also help companies navigate the challenges of a competitive and complex market.

What will be the Size of the Debt Settlement Market during the forecast period?

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The market encompasses a range of companies offering financial wellness programs to help consumers manage and reduce their debt. These programs include medical Debt collection, consumer debt relief, and financial education resources. Online financial resources and debt management software are increasingly popular, providing consumers with affordable debt solutions and debt negotiation strategies. However, it's crucial for consumers to be aware of debt settlement scams and their settlement success rates. Debt consolidation loans and financial planning tools are also viable options for responsible debt management. Furthermore, financial literacy education and workshops are essential for consumers to understand debt reduction calculators and credit reporting errors.
Consumer financial protection agencies offer financial counseling services and financial planning advice to promote financial wellness strategies and responsible borrowing. Student loan forgiveness programs are also gaining traction in the market. Overall, the market for debt settlement and financial wellness solutions continues to evolve, with a focus on providing accessible and effective debt relief options for consumers.

How is this Debt Settlement Industry segmented?

The debt settlement industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Credit card debt
  Student loan debt
  Medical debt
  Auto loan debt
  Unsecured personal loan debt
  Others


End-user

  Individual
  Enterprise
  Government


Distribution Channel

  Online
  Offline
  Hybrid


Service Type

  Debt Settlement
  Debt Consolidation
  Debt Management Plans
  Credit Counseling


Provider Type

  For-profit Debt Settlement Companies
  Non-profit Credit Counseling Agencies
  Law Firms
  Financial Institutions


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa



  APAC

    China
    India
    Japan
    South Korea


  South America



  Rest of World (ROW)

By Type Insights

The credit card debt segment is estimated to witness significant growth during the forecast period.

The market experiences significant activity due to the escalating credit card debt among consumers. In India, for instance, the rising financial hardships faced by borrowers are evident in the increasing credit card defaults. The latest data indicates that credit card defaults in India reached 1.8% in June 2024, a notable increase from 1.7% six months prior and 1.6% in March 2023. This trend underscores the mounting financial pressures on consumers. The outstanding credit card debt in India mirrors this trend, with approximately USD3.25 billion in outstanding balances as of June 2024, a slight increase from the previous year.

Debt elimination and negotiation strategies, such as debt relief programs and debt consolidation, have become increasingly popular among consumers seeking financial relief. Credit reporting agencies play a crucial role in this process, as they maintain and report consumers' credit histories to lenders. Student loan debt, medical debt, tax debt, and payday loans are other significant contributors to the market. Consumers often turn to debt validation, credit repair, and financial coaching for guidance in managing their debts. Online platforms, mobile apps, and budgeting tools have become

Norfolk Island: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Norfolk Island from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Finland: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Finland from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Panama: Student loan debt balance per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Panama from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .