Hands in the Cookie Jar
"Surging oil and natural gas production brought on by hydraulic fracturing is lifting the US economy by lowering energy costs for consumers and manufacturers, according an industry-funded report."In 2012, the energy boom supported 2.1 million jobs, added almost $75 billion in federal and state revenues, contributed $283 billion to the gross domestic product and lifted household income by more than $1200, according to the report released today from IHS CERA."
- $1.2 trillion – the estimated amount in outstanding student debt.
- $260 billion – what that amount was in 2004.
- 37 million – Americans with student loan debt outstanding, according to estimates from the New York Fed.
- $28,000 – The typical 2012 college graduate's debt load upon Graduation Day, according to Hamilton Place Strategies.
- $9,000 – That debt load in 1993.
- $810 billion and $670 billion – The total outstanding auto and credit card debt held by Americans, respectively, putting student debt into a clear lead.
- 13.4% – the national default rate for borrowers whose loans entered repayment from fall 2009 to fall 2010. (This is the first year for which the government has released three-year default data.)
- 22.7% – defaults in the first three years for graduates from for-profit colleges
- Nearly 47% of all defaults were from for-profit colleges, the Institute for College Access & Success said, even though those institutions have just a 13% share of college enrollment.
- 7 million – Number of student loan borrowers in default, out of an estimated 37 million total. That includes public and private loans, according to the CFPB.