The Consumer Financial Protection Bureau today issued this report entitled "Student Loan Affordability--Analysis of Public Input on Impact and Solutions." The report's executive summary appears after the jump.
The agency also issued this companion fact sheet.
The fact sheet includes what it calls "Student Loan Debt by the Numbers":
• $1.1 trillion: Approximate amount of outstanding student loan debt—second only to mortgages in household debt.
• 1-in-5: U.S. households that have student loans.
• $26,682: Average outstanding balance for a borrower with student debt.
• 1-in-8: Share of borrowers with more than $50,000 in student debt.
• 40 percent: Share of American households headed by someone under 35 that have student loan debt.
• 25 percent: Share of borrowers under age 30 that spend more than 10 percent of their income on student loan payments.
• 30 percent: Share of borrowers in repayment that are delinquent on a student loan.
• 6.7 million: Number of borrowers who are more than 90 days delinquent on a student loan.
• 31 percent: Percentage increase in the number of student loan borrowers between 2007 and 2012.