According to the Federal Reserve Board, there are nearly 40 million student loan borrowers with outstanding loans today. We have all seen lots of articles about this. We all know that many student loan holders are mired in debt.
The number of people who are at least 90 days late on student loan payments has jumped to almost 12 percent.
Of the 40 million Americans with outstanding student loan debt, the majority of borrowers still paying back their loans are in their 30s or older.
Almost 40% of these student loan borrowers are under the age of 30.
Nearly 42% are between the ages of 30 and 50.
17% are older than 50.
Student loan borrowers age 30-39 carry $307 billion in student loans. The under 30 borrowers come in second with $292 billion in loans. There is $154 billion in loans for the age 40-49 age group and $106 billion for the age 50-59group. The over 60 category is carrying $43 billion. This comes to a total outstanding debt of $902 billion.
Dataman Group offers 2 student loan mailing lists with selects targeting Student Loan Holders
• Average monthly payment on open student trades reported in the last 6 months
• Average balance on open student trades reported in the last 6 months.
This is not data from the credit bureaus. This data can be utilized by credit counseling companies, loan repayment counselors, banks, mortgage lenders & lenders who specialize in private student loans.
For companies looking to reach out to student loan borrowers, the right direct mail piece to this group will generate new leads and business.