| dbo:abstract |
Defaulting on a loan happens when repayments are not made for a certain period of time as defined in the loan's terms of agreement, typically a promissory note. For federal student loans, default requires non-payment for a period of 270 days. For private student loans, default generally occurs after 120 days of non-payment. In 2021, outstanding student loan debt has reached a record more than 1.8trillion.Outstandingstudentloandebthasincreasedfrom1.8 trillion. Outstanding student loan debt has increased from 1.8trillion.Outstandingstudentloandebthasincreasedfrom1.06T to 1.41T from 2014 to 2019, a 33% increase. The average loan balance per borrower has reached over $35,000. Of that amount, 10.8% of that student debt is at least 90 days past due or in default. This is not limited to a small population; analysis has shown that every year at least 1 million individual borrowers enter default on their student loans. Many analysts consider the number of individual borrowers that are at risk of default to be undercounted due to the prevalence of borrowers in deferment, forbearance, grace periods. (en) |
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dbc:Student_loans_in_the_United_States dbr:Promissory_note dbr:Default_(finance) dbr:Garnishment dbr:Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act dbr:Cohort_Default_Rate dbr:Loan dbr:Higher_Education_Act_of_1965 dbr:Student_loans_in_the_United_States |
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dbt:Reflist |
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dbc:Student_loans_in_the_United_States |
| rdfs:comment |
Defaulting on a loan happens when repayments are not made for a certain period of time as defined in the loan's terms of agreement, typically a promissory note. For federal student loans, default requires non-payment for a period of 270 days. For private student loans, default generally occurs after 120 days of non-payment. (en) |
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Student loan default in the United States (en) |
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freebase:Student loan default in the United States wikidata:Student loan default in the United States https://global.dbpedia.org/id/4vuEu |
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wikipedia-en:Student_loan_default_in_the_United_States?oldid=1075518912&ns=0 |
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wikipedia-en:Student_loan_default_in_the_United_States |
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wikipedia-en:Student_loan_default_in_the_United_States |