Analyze This: A Close-Up Look at Student Loan Debt
Even with student loan debt reaching an all-time high, Experian finds that student loans can help build and establish credit history for young adults. Michele Raneri, Experian’s Vice President of Analytics, provides insight on the current state of student lending and talks about what this increasing debt means for students and the economy as a whole.
- Nationally, student loans have increased by 84% since the recession
- 40 million consumers now have at least one student loan with an average balance of $29,000
- Consumers with student loan debt have a VantageScore credit score that is 20 points higher than those without student loan debt