Student Loans Have Become A Big Deal 37 Million Americans Collectively Summers: collectively, around 46 million americans owe at least $1.7 trillion in student loan debt. this continues to amplify the debate on whether the government should pay for higher education. Adding private loans brings that amount above $1.7 trillion, so that total student debt exceeds debt from auto loans and credit cards. only home mortgage debt, at more than $12 trillion, is larger.
A Guide To Understanding Student Loans Central Bank This means about 45 million americans with loans amounting to more than $1.6 trillion , will start repaying as soon as october, and with no reprieve from the supreme court. in a ruling friday, the. Total student loan debt statistics. as of the first quarter of 2023, student loan debt in the u.s. stands at a total of over $1.77 trillion. more than 92% of this is federal student loan debt. The amount of student debt held in america is roughly equal to the size of the economy of brazil or australia. more than 45 million people collectively owe $1.6 trillion, according to u.s. Some $37 million in loan forgiveness was given to students who enrolled at the university of phoenix between 2012 and 2014, and about $5.2 billion was given in loan forgiveness for more than.