![]() That trend is true for younger households as well the prevalence of student debt for those households has climbed from 15 percent in 1989 to 41 percent in 2019. The percentage of households with student debt has almost tripled, from 8 percent in 1989 to 21 percent in 2019. One major reason for the significant rise in student debt is that more Americans are borrowing to attend college. More adults are burdened with student debt today.Student debt is also the second-largest source of household debt, trailing only mortgage debt. Since 2004, student loan debt has risen faster than other household debt and has surpassed both auto loan and credit card debt in 2010. ![]()
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