Student loan
debt has
increased
over time in U.S.
Pursuing
higher education
has also often meant adding on another type of
debt burden.
Historical data
shows how average
student loan debt
balances have
increased
faster than
inflation.
Student debt
has also grown to equal more than
credit card
and
auto loan
balances combined.
Student loan
debt is the biggest form of debt after
mortgages.
Average student
loan debt balance has grown by nearly
92% since 2009,
according to
Experian data.
As of June 2022,
the average student loan debt among consumers in the
U.S.
totaled
$39,381,
according to
Experian.
Since the
summer of 2012
, the average
student loan
balance has grown much
more rapidly
Joe Biden
announced
on 24 August, that he would
cancel $10,000 in student loan
debt for
earners
below $125,000.