Education Debt Skyrockets for American Families
by Anthony Sibley (AJ) on Sep 18, 2014 | Views: 216 | Score: 1
| 2001 | 2013 | |
|---|---|---|
| $25,000-$50,000 | 6 | 13 |
| $50,001-$100,000 | 16 | 17 |
| Greater Than $100,000 | 1 | 6 |
Education Debt
% of American Households
Sources:
federalreserve.gov, trends.collegeboard.org
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While most Americans still owe less than $25,000 in debt from educational loans, college costs have persistently risen faster than income levels, and the percentage of families owing over $50,000 in education debt has nearly tripled since 2001. This surge has hit those making below $30,000 annually the hardest, whose share of education debt has doubled to nearly 25%.