The average student loan debt per borrower is $31,300. The average age of borrowers is 29.5 years old. The average debt-to-income ratio is 12.4%. The report also highlights the following statistics:
1 in 5 Americans (20%) have student loan debt. 1 in 4 Americans (25%) have credit card debt. 1 in 6 Americans (17%) have medical debt. 1 in 7 Americans (14%) have mortgage debt. 1 in 10 Americans (10%) have car loan debt. 1 in 12 Americans (8%) have personal loan debt. The average American has 5 credit cards. The average American has 5 mortgages. The average American has 5 car loans. The average American has 2 personal loans. The average American has 1 mortgages. The average American has 8 personal loans. The average American has 7 mortgages. The average American has 3 mortgages. ## The State of Consumer Debt in America
The State of Consumer Debt in America
The report highlights the alarming state of consumer debt in America, with a staggering $1.61 trillion in student loan debt alone. This debt burden is not limited to students, however, as a significant portion of the population carries other types of debt.
However, if you have a history of late payments, you may be able to negotiate a settlement with your creditor.
