Student debt is most prevalent among Americans aged 25 to 34. Sixty-seven percent of student loan borrowers are under 40, according to the, but only 57 percent of balances are owed by those under 40. In other words, people with larger balances are more likely to be older likely due to borrowing for graduate school.
Among the fastest-growing categories of student loan borrowers over the past two decades are Black students and people ages 50 and older, according to the most recent Federal Reserve data. The median income of households with student loans is $76,400, and 7 percent of borrowers are below the poverty line.Although a majority of college students attend public two- and four-year institutions, about half of outstanding student debt is held by people who went to private schools.
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