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:
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.
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