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 and 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 3.2 percent in only two years, rising from 8.5 percent in 2011 to 11.7 percent today, according to a recent study by the New York Federal Reserve.
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 borrowers are under the age of 30.
• Nearly 42% are between the ages of 30 and 50.
• 17% are older than 50.
Borrowers age 30-39 carry $307 billion in student loans, followed by those under 30 at $292 billion, $154 billion in the 40-49 age group, 50-59 at $106 billion and the over 60 category carrying $43 billion, for a total outstanding debt of $902 billion.
Dataman Group offers 2 list 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.
Unlike data from the credit bureaus, this data can be utilized by credit counseling companies, loan repayment counselors, as well as banks, mortgage lenders & lenders who specialize in private student loans.
Businesses will generate leads and new business with the right direct mail piece targeting this key market segment.