Student Loans Database

The student loans database includes details about borrowers who have taken out federal loans including repayment status and loan amount, type of loan (including consolidated private loans), interest rate, annual percentage rate, number of payments and due dates, original principal balance, total outstanding debt, current monthly payment, and estimated payoff date.

Student Loans Database

The Student Loan Debt Tracker provides information about student loan debt across the United States. Users can search by state, county, institution and program type. Data includes total outstanding student loan balances, number of borrowers, average balance per borrower, repayment status (current/in default), and more.

How many student loans do people have?

It’s hard not to think about student debt these days. In fact, the average college graduate leaves school carrying $28,000 in loan debt – surpassing credit card debt for the first time ever! And while the recent economic crash may have helped some people get out of their loans early, others still find themselves struggling to pay off their loans years after graduation.

What are the top 10 highest paying jobs for student loans?

The average annual salary for someone who holds a bachelor’s degree is around $53,570. But if you complete your education and earn a master’s degree, you could see a much higher income. According to PayScale.com, the following ten occupations pay the best salaries to students who hold masters degrees:

Attorney (10th on list) – $95,500

Physician Assistant / Nurse Practitioner (9th on list) -$90,600

Pharmacist (8th on list) – 90,200

Dentist (7th on list) – 89,650

Dietitian Nutritionist (6th on list) – 88,980

Athletic Trainer (5th on list) – 87,990

Physical Therapist (4th on list) – 85,590

Optometrist (3rd on list) – 84,700

Veterinarian (2nd on list) – 84270

Which states are home to the largest number of student borrowers?

Student Loans Database

Student Loan Debt

The average student loan debt per borrower is $35,200 after three years. However, if you have an undergraduate degree, graduate degrees carry significantly higher levels of debt. The average total debt is $52,100 for undergraduates and $95,700 for graduates. Students who enter the job market with loans will face a lifetime of monthly payments, while those who choose to work before they borrow money may never pay off their debt.

Default Rates

In 2010, over 2 million borrowers were delinquent at some point in time during the previous year, representing 6 percent of all outstanding amount owed. Of these delinquencies, 39 percent had been overdue for 90 days or longer, while 11 percent had been overdue for 180 days or longer. In addition, 5 percent of borrowers had already defaulted on their loans in 2009. If you do not make your payment each month, you could miss out on interest, fees, and penalties and end up paying more than what you borrowed!

Student Loan Lenders

While private lenders offer the highest APR rates, federal loans offered by the Department of Education can offer up to 10 percent lower interest rates. Also, many lenders offer flexible repayment plans in order to help students get back on track with their finances. If you are struggling to repay your loans, contact your lender immediately to find out how you can avoid defaulting.

Public Service Loan Forgiveness

If you complete 120 credit hours (or 60 cumulative credit hours) while enrolled full-time and work in public service, then your remaining student loan balance will be forgiven after ten years. You must still make minimum payments and qualify based on the income guidelines set by the Government Accountability Office (GAO). A recent report showed that the program only resulted in 1,000 cases in its first five years. While it is true that the program does not apply to certain types of loans, it is still worth checking out if your goal is to reduce your debt burden.

Private Student Loan Consolidation

If you have private student loans, then consolidation comes in handy. By consolidating private student loans into one low-interest rate loan, you should save thousands of dollars. This works well for people who want to consolidate student loans without having to take out additional debt. Private loans cannot be consolidated into federal loan programs like Federal Family Educational Loan Program (FELP), Perkins Loan Program or Direct Subsidized Loan Program.

Payday Loans

Payday loans are short term loans designed for emergencies that need money right away. Borrowers can expect to pay between $50-$1500 with a typical APR around 270%. Payday loans are high risk due to the fact that you do not own the collateral. Additionally, the fees associated with payday loans are excessive, making them difficult to afford.

Home Equity Lines of Credit (HELOC’s)

Home equity lines of credit are secured by the home value and allow homeowners to tap into the equity in their homes to finance education or meet any unexpected expenses. HELOC’s can be useful tools to use when you need cash fast, but they often carry high interest rates and require 20% down. As long as you continue to make timely payments, your line of credit can increase in line with inflation. However, if you stop paying on time, you will lose access to the funds and the interest that accrues will eventually exceed the principal.

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