Financial Facts

September 15, 2017

The amount of student loan debt has risen by 149 percent over the past decade to $1.4 trillion. Delinquencies have risen 62 percent for the same period. However, since 2007 delinquencies have declined by 3 percent, showing that borrowers are getting better at managing their debt.

Meanwhile, an Economic Policy Institute survey based on 2013 statistics shows that the wealthiest 1 percent of US families had over $1 million saved for retirement while median working-age families had only $5,000 saved.

VACo Contact: Vicky Steinruck, CPA

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