Description of the Indicator
This indicator identifies characteristics of student loan debt, including the share of the population with debt, the share of student loan holders in default, median student loan debt, total loan debt in default, and the median monthly payment for student loans.
Why is it important?
Student loan debt is crucial to incorporate into understanding a region’s economic outlook because it challenges the resilience of a younger generation and affects decisions regarding employment, location, housing, and savings.
How is the region performing?
Depending on the county, between 16.0 percent and 22.0 percent of the regional population has taken out student loans. The number of individuals in default has decreased for the second consecutive year. Both the median student loan debt and median monthly payments have increased from the previous year.