“Sound Off” on Student Debt Survey Results U.S. Representative Karen Bass Tuesday, April 4, 2012

Education and Student Debt Success in the U.S. Advancing Education Post College Debt Should Not = A Mortgage

Survey Results 1,396 people responded to the survey. Repaying student loans is a challenge. Education Debt From: 43% --Undergraduate 24% --Graduate 33% --Both

Ethnicity Who Responded? % Ethnicity (N=784) 28% African American 7% Asian AM/PI 16% Latino.6% Native American 40% White 8% Multi-racial

School Type Who Responded? % Type (N=822) 51% Private (4yr) 34% Public (4yr) 3% Community College 7% Technical School 6% Both Pvt/Public

Employment Status: 17%  employed part-time 50%  employed full-time 19%  unemployed 14%  still enrolled in school The Survey Respondents

Regardless of employment status almost everyone is having difficulty repaying their loans. Who’s Having Difficulty? 89%  of part-time employed 86%  of full-time employed 95%  of those who are unemployed How Easy Is Repayment?

47%  in Repayment 12%  delinquent 7%  in default =54% 19%  in deferment 16%  in forbearance © your company name. All rights reserved.Title of your presentation 54% of Those Out of School Can’t Pay

Federal + Private Debt Total Debt Range Median = $50,000 Mode = $20,000 40% 15% 21% 23%

Federal vs Private Debt Federal Debt Median = $38,000 Mode = $20,000 Private Debt Median = $25,000 Mode = $10,000 63% 51%

71% reported that interest accumulated while they were “in” school Interest Rates Vary Interest Rate % of Respondents 4% or <24% 5-7% 37% 7-9% 32% 10% or + 8%

Places Where People Sought Help: 71%  Dept of Education 25%  Their Lender 7%  Their School 18%  Their Family 32%  Have NOT Sought Help Help Sought?