Description of the Indicator
This indicator identifies areas of student loan debt, such as the share of population with debt, the share student loan holders with debt in default, median student loan debt, loan debt in default, and the median student loan monthly payment.
Why is it important?
Student loan debt is important to incorporate in the understanding of a region’s economic outlook because it challenges the resiliency of a younger generation and impact decisions regarding employment, location, housing, savings, and future planning.
How is the region performing?
A range of 15 percent to 22 percent of the regional population still has student loans. Numbers in default have decreased slightly, but the median student loan debt increased in the region. The value of the default decreased, and monthly payments fluctuated.