Monitoring Education Debt in the United States
The percentage of American families with education loans has increased over time, regardless of most socio-demographic characteristics. A 2016 study of the financial circumstances of U.S. households showed broad-based gains in income and net worth since 2013 and a corresponding decrease in many measures of debt, but education debt increased substantially.
The Survey of Consumer Finances (SCF) is the definitive source of financial information about U.S. households. NORC has conducted this triennial survey for the Federal Reserve Board since 1992. The survey covers a wide range of topics including attitudes about financial institutions, real estate and loans to others, retirement savings and pensions, and demographics and health. The SCF is the only fully representative source of information about the finances of U.S. households. For 30 years, the data has informed U.S. monetary and tax policies, consumer protection initiatives, and federal legislation.
This visualization was created by NORC’s VizStudio, a creative community of experts who turn complex data into compelling visual stories.