Chart of the Day: Student Loan Growth

From the Economist:

20150620_USC669

Questions for students:

  • What is average student debt (see left hand axis) and %age of students who graduate with loan debt (right hand axis) in 2015?
  • How would you describe the recent trends for both of these metrics?
  • Taking the average student debt at graduation of $35,000, what would be the monthly loan payment, assuming a 10 year term? ┬áHere is a handy student loan repayment calculator.

Check out this NGPF activity to answer the question “How Much Should I Borrow for College?”