As of April 2023, federal student loan forgiveness programs forgave an average amount of around ****** U.S. dollars to eligible borrowers in the United States. In comparison, the average amount of student debt forgiven by the Public Service Loan Forgiveness program was ****** U.S. dollars per borrower. Public Service Loan Forgiveness grants federal loan forgiveness to borrowers who have been working for a qualifying public service employer full-time for 10 years and have made *** monthly payments while working for that employer.

According to a survey conducted in 2022, all surveyed adults with student loan debt who had stopped out of college in the United States said that they would need at least ** percent of their loan forgiven to reenroll in college on average. In comparison, White adults and adults who had stopped out of a bachelor's degree program said that they would need at least ** percent of their loan forgiven to reenroll on average.

Information about federal student loans that have been discharged or forgiven under certain programs.

Provides the status of applications submitted for the Public Service Loan Forgiveness Program, Temporary Expanded PSLF Program, and employment certification.

In April 2024, Americans were surveyed on how much student loan debt they think should be forgiven. While the greatest proportion of respondents (** percent) felt that no student loan debt at all should be forgiven, there was equal support for forgiving all student loan debt. Of the selected dollar amounts, nine percent of respondents felt that around ****** U.S. dollars was an acceptable amount to forgive, and only six percent of respondents chose less than 10,000 dollars.

Incidence and repayment of government student loans among graduates who did not pursue any further postsecondary education program, Canada and provinces. This table is included in Section B: Financing education systems of the Pan Canadian Education Indicators Program (PCEIP). PCEIP is an ongoing initiative of the Canadian Education Statistics Council, a partnership between Statistics Canada and the Council of Ministers of Education, Canada that provides a set of statistical measures on education systems in Canada.

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.

The National Student Loan Data System (NSLDS) is the national database of information about loans and grants awarded to students under Title IV of the Higher Education Act (HEA) of 1965. NSLDS provides a centralized, integrated view of Title IV loans and grants during their complete life cycle, from aid approval through disbursement, repayment, deferment, delinquency, and closure.

This data includes the number of Loan Forgiveness recipients by program type and the region, as designated by the Department of Labor, in which they are employed beginning award year 2011 (for HESC-administered Loan Forgiveness programs only). Data has been collated by recipient region of employment. For this purpose, the current New York State Department of Labor definitions of New York State Regions, as listed on their public web site, were used.

The Biden-Harris Administration released a plan to cancel federal student loans for 43 million borrowers on August 24, 2022. While the Supreme Court struck down the Biden-Harris' student debt relief plan on June 30, 2023, the White House is now planning to use the Higher Education Act of 1965, a federal law that governs the student loan program, to bring about relief for student borrowers. This article estimates the potential impact of broad-based student debt relief on racial and ethnic wealth gaps. On average, federal student debt potentially eligible for relief explains 3% of the White-Black wealth gaps, suggesting that broad-based student debt relief could significantly mitigate racial wealth inequities.Note: This is data and code accompanying the article.

Presents statistics on student loan borrower status and repayments by repayment cohort and tax year, produced by the Student Loans Company

Source agency: Business, Innovation and Skills

Designation: Official Statistics not designated as National Statistics

Language: English

Alternative title: Student loan repayments

Income-driven repayment plans lower required payments for student loan borrowers when their income decreases. This helps to reduce student loan defaults. Despite universal availability, only a minority of student loan borrowers in the U.S. are in an income-driven repayment plan. In this study, I test whether a student’s choice of repayment plan is related to their expectations of earning a low income. Using an information experiment in a web survey, I create two groups of college seniors with an exogenous difference in low-income expectations. I find that respondents who see the major specific income information believe they, on average, have a higher probability of earning a low income. However, those respondents are not any more likely to choose the income-driven repayment plan. I conclude that students’ repayment plan preferences are not strongly related to their expectations of earning a low income. This may be due to students caring about things other than minimizing monthly payments when choosing a repayment plan.

Over 44.7 million Americans carry student loan debt, with the total amount valued at approximately $1.31 trillion (Quarterly Report, 2019). Ergo, consumer spending, a factor of GDP, is stifled and negatively impacts the economy (Frizell, 2014, p. 22). This study examined the relationship between student loan debt and the probability of a recession in the near future, as well as the effects of proposed student loan forgiveness policies through the use of a created model. The Federal Reserve Bank of St. Louis’s website (FRED) was used to extract data regarding total GDP per quarter and student loan debt per quarter ("Federal Reserve Economic Data," 2019). Through the combination of the student loan debt per quarter and total GDP per quarter datasets, the percentage of total GDP composed of student loan debt per quarter was calculated and fitted to a logistic curve. Future quarterly values for total GDP and the percentage of total GDP composed by student loan debt per quarter were found through Long Short Term Models and Euler’s Method, respectively. Through the creation of a probability of recession index, the probability of recession per quarter was compared to the percentage of total GDP composed by student loan debt per quarter to construct an exponential regression model. Utilizing a primarily quantitative method of analysis, the percentage of total GDP composed by student loan debt per quarter was found to be strongly associated[p < 1.26696* 10-8]with the probability of recession per quarter(p(R)), with the p(R) tending to peak as the percentage of total GDP composed of student loan debt per quarter strayed away from the carrying capacity of the logistic curve. Inputting the student loan debt forgiveness policies of potential congressional bills proposed by lawmakers found that eliminating 49.7 % and 36.7% of student loan debt would reduce the recession probabilities to be 1.73545*10-29% and 9.74474*10-25%, respectively.

According to a survey conducted in 2023, ** percent of Gen Z adults agreed that a program that helps poor students or students of color get admission to selective or prestigious colleges would be effective at preparing young Americans for the future. In comparison, ** percent of Baby Boomers shared this belief.

Financial overview and grant giving statistics of Coleman Student Loan Relief Fund

In the United States, taking out student loans to attend higher education has become a controversial course of action. In 2022, ** percent of adults perceived taking out student loans in order to afford higher education in the United States as a financial risk. In contrast, ** percent of adults said it was a good long-term investment.

Biden’s pause on payments

During the COVID-19 pandemic, the Biden administration allowed for a pause on student loan payments which was extended to June 2023. It has since become clear that many adults in the U.S. will struggle to resume student loan payments, with 30 percent of U.S. adults reporting that they probably would not be able to afford to make payments towards their student loans once the pause expires. In addition, 60 percent of adults in the U.S. said that resuming payments towards their student loans would have a major impact on their financial security. Although President Biden has advocated for a student loan forgiveness plan to ease the transition into resuming student loan payments by first forgiving up to ****** U.S. dollars in student debt for many Americans, this plan came under criticism by conservative groups who have attacked the implementation of the policy in courts. In 2022, only a quarter of Republicans believed that student loan debt was a very serious problem, compared to over half of Democrats.

Affordability of higher education in America

Although many in the U.S. perceive the value of attending higher education as a pathway to a successful career, only **** percent of surveyed Americans believed that everyone in the U.S. had access to a quality, affordable education after high school if they wanted it. 36 percent of Americans who said that they definitely could not afford to resume student loan payments reported owing ****** to 100,000 U.S. dollars, which can amount to the cost of just one semester of college in the United States. Despite declining enrollment numbers in higher education institutions, colleges fees remain costly and younger Americans have started to question whether taking out student loans is worth the risk. U.S. adults aged 18 to 44 years old as well as those who earned under ****** U.S. dollars were both found less likely to believe that taking out student loans to attend higher education was worth it.

This material is based upon work supported by the National Science Foundation under Grant No. 2049358. Any opinions, findings, and conclusions or recommendations expressed in this material are those of the author and do not necessarily reflect the views of the National Science Foundation.Income-driven repayment plans lower required payments for student loan borrowers when their income decreases. This helps to reduce student loan defaults. Despite universal availability, only a minority of student loan borrowers in the U.S. are in an income-driven repayment plan. I test whether a student’s choice of repayment plan is related to their expectations of earning a low income by fielding a web survey where students are randomly shown one of two types of information about post-college incomes. I use which treatment a student sees as an instrument for their low-income expectations. While the estimates for the full sample are insignificant, I find that increasing low-income expectation decreases the probability a student prefers an income-driven repayment plan. The more tailored income information significantly increases students’ low-income expectations but causes insignificant declines in choosing the income-driven repayment plan. I conclude that increasing students’ low-income expectations is unlikely to increase take up of income-driven repayment plans.

Data on the average amount of OSAP debt owed by students. The data is specific to those who attended programs with typical durations. Data is for: * 4-year undergraduate university students * 2-year college diploma students * 1-year private career college students The data fields are: * academic year of completion * postsecondary sector (university, publicly-assisted college, or private career college) * program duration (1 year, 2 years or 4 years) * average repayable debt after loan forgiveness applied through the Ontario Student Opportunity Grant Debt is in nominal dollars with no adjustment for inflation. *[OSAP]: Ontario Student Assistance Program

Student debt heavily shapes the life decisions and outlooks of those living with it. Here we examine the relationship between undergraduates’ views of President Joe Biden’s actions on student debt and their support for him in the 2024 election prior to his dropping out of the race. Using a representative survey from a large private university in the Northeast, we assess how student views of Biden's handling of student loan relief correlated with voting intentions among registered student voters. Our analysis reveals that students who believe the Biden administration has adequately addressed student debt were significantly more likely to support him compared to those who believe he has done too little. Additionally, our findings suggest that while increased student debt relief could have bolstered Biden's support among liberal and very liberal students, its impact on moderate and conservative students was more limited. This study highlights the electoral implications of student debt relief policies, particularly in shaping young voters' preferences, and underscores the potential for targeted economic benefits to influence voter behavior in a highly polarized political environment.

The global student loan market is experiencing robust growth, projected to reach a significant size by 2033. A Compound Annual Growth Rate (CAGR) of 9.20% from 2025 to 2033 indicates a consistently expanding market driven by several key factors. Rising tuition fees at higher education institutions globally necessitate increased borrowing by students, fueling market expansion. Government initiatives and favorable lending policies in many countries further support this growth. The market is segmented by loan type (federal/government and private), repayment plan (standard, graduated, REPAYE, IBR, and others), age group (under 24, 25-34, over 35), and end-user (graduate students, high school students, and others). The increasing number of students pursuing higher education, particularly graduate programs, is a major driver, alongside the growing awareness and accessibility of private loan options. The market exhibits regional variations, with North America and Europe holding substantial market shares, but the Asia-Pacific region is expected to show significant growth potential in the coming years. Competition within the student loan market is intense, with established players like Sallie Mae and Discover alongside newer fintech lenders like Earnest, Juno, and Credible. These companies are constantly innovating to offer competitive interest rates, flexible repayment plans, and improved customer service. Regulatory changes and economic fluctuations represent potential restraints on market growth. However, the long-term outlook remains positive due to the persistent demand for higher education and the sustained need for student financing. The diversification of loan products and repayment options caters to the evolving needs of borrowers, contributing to the overall market expansion. Technological advancements are streamlining the lending process, improving borrower experience, and fostering greater market efficiency. Student Loans Market: A Comprehensive Forecast (2019-2033) This in-depth report provides a comprehensive analysis of the student loans market, encompassing historical data (2019-2024), the base year (2025), and a detailed forecast extending to 2033. The study meticulously examines market segmentation across various parameters, including loan type (federal/government, private), repayment plans (standard, graduated, REPAYE, IBR, others), age groups (24 or younger, 25-34, above 35), and end-users (graduate students, high school students, others). The report offers valuable insights into market size (in millions), growth drivers, challenges, emerging trends, and competitive dynamics, making it an indispensable resource for stakeholders across the student loan ecosystem. Recent developments include: October 2023: Discover unveiled its latest national brand campaign, titled "Especially for Everyone," featuring the acclaimed actress Jennifer Coolidge. In a groundbreaking move, Coolidge will take center stage in nationwide advertising efforts, spotlighting Discover's array of benefits and products. Of notable significance, this campaign marks the company's inaugural foray into promoting a deposit product, specifically highlighting Discover's Cashback Debit Checking Account., July 2023: Earnest, a fintech company dedicated to enhancing accessibility and affordability in higher education, joined forces with Nova Credit, a cutting-edge credit bureau with a global reach. Together, they have introduced International Private Student Loans, opening up new opportunities for students around the world to pursue their educational dreams.. Key drivers for this market are: Government Initiatives are Driving the Market, Growing Aspirations for International Education is Driving the Market. Potential restraints include: Government Initiatives are Driving the Market, Growing Aspirations for International Education is Driving the Market. Notable trends are: High Education Costs is Driving the Market.