Percentage of tax returns with student loan interest deduction. Average student debt as a percentage of median earnings for bachelor’s degree holders. Data for average student debt comes from Experian, and information for median earnings for bachelor’s degree holders comes from the U.S. However, listed here are a few of the student loan debt statistics I think are attention-grabbing to know. But I’m not here to speak about politics with student debt, there may be loads of that on the market on the web for you to seek out. There aren’t any software, begin, or late expenses from Discover. An increasing number of older Americans have defaulted on their federal student loans, that are administered by Education, and have a portion of their Social Security retirement or disability benefits withheld above a minimum benefit threshold to repay this debt. In addition, borrowers who have a complete and everlasting incapacity may be eligible for a TPD discharge, but they should adjust to annual documentation requirements that aren’t clearly and prominently acknowledged. Older borrowers (age 50 and older) who default on federal student loans and must repay that debt with a portion of their Social Security benefits often have held their loans for decades and had about 15 percent of their profit payment withheld.