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Private Student Loan Report Q3 2015

Private Student Loan Report Q3 2015

Listen to a playback of our Feb 23, 2016 webinar.   


The MeasureOne Private Student Loan Report is a semi-annual update on the status of the Private Student Loan Market. This report serves as an update to the March 2015 report, and adds data for Q2 2015 and Q3 2015.

This report is based on data contributed by the six largest lenders/holders of school-certified private education loans within the MeasureOne Data Consortium. These participants include Citizens Bank, N.A.; Discover Bank; Navient; PNC Bank, N.A.; Sallie Mae Bank and Wells Fargo N.A. Cumulatively, these participants account for the majority of both outstanding private student loans and new originations.

Together, the six Consortium participants provide a comprehensive picture of today’s private student loan market.

The entire private student loan market is estimated to be $99.7 billion or 7.6 percent of the $1.31 trillion student loan market. The six participants represent approximately 66.7 percent of the entire private student loan market. Among the report’s highlights:

  • Year-over-year delinquencies continued to exhibit a significant downward trend.
  • Overall, delinquency rates are the lowest since before the 2008 economic crisis. Delinquencies have dropped while lenders continue to use forbearance judiciously, with only 2.2% of loans in forbearance as of Q3 2015. Early and late stage delinquency rates averaged 2.8% and 2.2%, respectively, for the latest four quarters and show year-over-year declines of approximately 13% and 11% respectively.
  • Charge-off rates are low at 2.2% for Q3 2015, the year-over-year charge-off decline is 6%.
  • Loan performance continues to improve with each subsequent origination vintage. Delinquencies and charge-offs have generally declined for each successive vintage in each quarter after origination.
  • As of Q3 2015, total balances of the six Consortium Participants edged up 3.5% year-over-year to $66.5 billion, reflecting modest growth of 2.6% in balances for undergraduate loans, which represent 76.7% of all balances. In addition, there was growth of 17.2% in the smaller ‘Other’ program category (10.6% of balances) which includes consolidation/refinance loans and loans that are not coded by the participants as graduate or undergraduate.
  • The percentage of loans in active repayment status has seen moderate growth over the last two years and is at 75.6% as of Q3 2015.

Contact us about joining the consortium.