Originations Increase While Delinquency and Defaults Remain at or near Historic Lows
Private student loans, which are fully underwritten to assess creditworthiness and ability to repay, with a total outstanding balance of $118.17 billion, make up 7.75 percent of total student loans outstanding as of Q1 2018. The remaining 92.25 percent ($1.41 trillion) of the $1.53 trillion in student loans are federal loans.
The MeasureOne Private Student Loan Report reflects data as of end-Q1 2018 for private student loans and does not include federal student loan data. As of the end of Q1 2018, the report found:
“The MeasureOne Private Student Loan Report continues to confirm that students and families are responsibly using private student loans to cover college costs and are judiciously and effectively paying them back,” said Dan Feshbach, CEO for MeasureOne. “The private student loan market remains stable and healthy.”
This semi-annual report includes continuous contributions from the MeasureOne Private Student Loan Consortium, a data cooperative of the six largest student loan lenders and holders: Citizens Bank, N.A., Discover Bank, Navient, PNC Bank, N.A., Sallie Mae Bank and Wells Fargo Bank, N.A.
The most recent report includes more performance data than ever before. In addition to the original six Consortium members, the Q1 2018 report includes the following ten contributors: College Ave Student Loans, Navy Federal Credit Union and 8 members from the Education Finance Council. In total, these 16 data contributors represent 62.89 percent of the private student loans outstanding in the U.S.
The full MeasureOne Private Student Loan Report is available at https://www.measureone.com/psl.phpAbout MeasureOne
MeasureOne, founded in San Francisco with offices in Dallas, TX, specializes in data and analytics serving the $1.53 trillion-dollar student loan market, the second largest form of consumer credit in the U.S. The company developed the first and only Private Student Loan Consortium, a data cooperative of the nation’s largest lenders and holders of private student loans. MeasureOne evaluates academic and loan performance data to increase understanding of consumer lending, academic success, and employment opportunities. For more information about MeasureOne, visit https://www.measureone.com