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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Vast Majority of Students and Families Successfully Managing Private Student Loans According to Latest MeasureOne Private Student Lending Research Report

December 20, 2019 GMT

SAN FRANCISCO, Dec. 20, 2019 /PRNewswire/ -- MeasureOne today released its Private Student Loan Report, an industry leading research report leveraging MeasureOne’s custom analytics services. This 13th edition of the report again affirms that students and families continue to responsibly use private student loans to cover college costs. In fact, 98% of families are successfully managing payments and less than 2% default, annually, which remains at or near historic lows.

The bi-annual report includes continuous contributions from 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. In addition to these MeasureOne Private Student Loan Consortium members, this Report includes data from 11 other student lender contributors. In total, these contributors represent roughly 62% of the private student loans outstanding in the U.S.

Private student loans, which are fully underwritten to assess creditworthiness and ability to repay, make up approximately 7.8% of total student loans outstanding as of Q3 2019. The remaining 92.2% of the $1.61 trillion in student loans are federal loans owned and managed by the Department of Education.

“The latest MeasureOne Private Student Loan Report continues to show losses and delinquencies both near historic lows,” said Elan Amir, CEO for MeasureOne. “We continue to be encouraged by families’ using private student loans responsibly. The private student loan market continues to be stable and healthy, while expanding student access to higher education.”

The Private Student Loan Report (“Report”) reflects data as of end-Q3 2019 for private student loans and does not include federal student loan data. Overall, the Report finds that, consistent with prior quarters, delinquencies, forbearances, and defaults remain at or near historic lows. As of the end of Q3 2019, the report found:

The full Private Student Loan Report is available for download at https://www.measureone.com/resources

About MeasureOne
In September 2019, MeasureOne introduced a new developer platform to drive innovation and new customer applications based on academic data. MeasureOne is now the leading API platform provider for academic data and predictive analytics. Using MeasureOne products, application developers across industries, including academic institutions, employment, lenders, marketing, residential real estate and insurance can leverage academic achievements to deliver compelling insights, products and services to emerging consumers. MeasureOne is headquartered in San Francisco. For more information about MeasureOne, visit www.measureone.com.

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SOURCE MeasureOne