In order to compete in today’s job market, it’s more necessary than ever to have a college degree. At the same time, with factors ranging from decreased state investment in higher education and rising tuition rates to wage stagnation and decreased availability of government grants, more and more people have to take on student loan debt in order to graduate. With millions of Americans saddled with student loan debt, many are concerned about the long-term implications for the economy on the whole.

40 MILLION+: The number of Americans who have at least one student loan. OUTSTANDING DEBT $28,000–$33,000: The estimated average amount of student debt per borrower in the US as of November 2015. $3,000: The estimated amount of student debt accrued every second. 70%: The percentage of bachelor’s degree recipients who graduate with student debt. 93%: The percentage of all student loans that are made by the federal government. 10%: The estimated percentage of student loan balances that are 90 days delinquent. Outstanding student loan debt has nearly quadrupled since 2000. AS OF NOVEMBER 2015, $1.3 TRILLION The total outstanding student loan debt in the US. 4.29–6.94%: The current range of interest rates for federal student loans (compared with a rate of 0.06% or lower on savings accounts at most banks).