Nebraska Debt Statistics


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Steve Goldstein
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Nebraska Debt Statistics 2023: Facts about Debt in Nebraska reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on Nebraska Debt, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Nebraska LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Nebraska Debt Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any word.

Top Nebraska Debt Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 12 Nebraska Debt Statistics on this page 🙂

Nebraska Debt “Latest” Statistics

  • According to Education Data Initiative, in Nebraska, the student loan debt is $7.9 billion.[1]
  • There are 247,500 student borrowers that live in Nebraska, and the average student loan debt is $31,919.[1]
  • According to Credit Summit, the average Nebraskan has $1,032 in personal debt, plus $139,626 of mortgage debt for homeowners.[2]
  • Nebraska residents carry a credit card balance of $5,845 and 54% of Nebraskans have student loan debt of $25,750.[2]
  • Less than 10% of defendants in debt collection actions from 2010 to 2019 had legal representation, compared to virtually all plaintiffs, according to research on the cases from 2010 to 2019.[3]
  • In the last ten years, courts have settled more than 70% of debt collection cases with default judgments in favor of the plaintiff.[3]
  • According to Consolidated Credit, the average Nebraskan has an average credit card balance of $4,819.[4]

Nebraska Debt “Other” Statistics

  • According to Consolidated Credit, the total household debt of Nebraska is $42,139.[4]
  • According to Forbes, the Nebraska Law class of 2019 had the lowest median debt in the nation.[5]
  • Debt collection lawsuits occupied an increasing percentage of civil dockets from an estimated 1 in 9 civil cases to 1 in 4 from 1993 to 2013, more than doubling from less than 1.7 million to nearly 4 million.[3]
  • 75% of civil case judgments were for less than $5,200, which means that in most states, debt claims are typically filed in a limited or small claims court.[3]
  • According to Pew, civil caseloads dropped more than 18 percent from 2009 to 2017.[3]

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How Useful is Nebraska Debt

One of the key arguments for Nebraska debt is that it allows the state to undertake important projects and investments that would otherwise be unfeasible without borrowing money. In today’s fast-paced world, infrastructure improvements, education funding, and technology advancements are essential for economic growth and development. By taking on debt, Nebraska can make critical investments in these areas that will benefit its residents for years to come.

Furthermore, debt can be a way to spread out the costs of these projects over time, rather than burdening current taxpayers with the full cost upfront. This can help ensure that the benefits of these investments are enjoyed by future generations, who will also contribute to paying off the debt. Debt can be a way of ensuring intergenerational equity and creating a more sustainable financial future for Nebraska.

Additionally, debt can be a way to take advantage of historically low interest rates to finance projects at a lower cost. By borrowing money when interest rates are low, Nebraska can lock in favorable terms and ultimately save money in the long run. This can be especially beneficial for major capital investments that have a high upfront cost but yield long-term benefits to the state.

Of course, it’s important to acknowledge the risks and challenges associated with debt. Too much debt can be harmful and lead to financial instability for the state. It’s crucial for Nebraska to borrow responsibly and ensure that the debt is manageable and sustainable in the long term. This requires careful planning, budgeting, and oversight to ensure that the state’s debt levels remain under control.

There is also a need for transparency and accountability when it comes to Nebraska debt. Residents deserve to know how their tax dollars are being used and what projects are being financed with borrowed money. Open communication and engagement with the public can help build trust and ensure that debt is being used wisely and effectively to benefit the state as a whole.

In conclusion, it’s clear that Nebraska debt can be a useful tool when used strategically and responsibly. By taking on debt to finance important projects and investments, the state can drive economic growth, create jobs, and improve the quality of life for its residents. However, it’s essential for Nebraska to borrow prudently, manage its debt carefully, and maintain transparency and accountability to ensure that debt remains a valuable resource for the state.

Reference

  1. educationdata – https://educationdata.org/student-loan-debt-by-state
  2. incharge – https://www.incharge.org/debt-relief/credit-counseling/nebraska/
  3. pewtrusts – https://www.pewtrusts.org/en/research-and-analysis/reports/2020/05/how-debt-collectors-are-transforming-the-business-of-state-courts
  4. consolidatedcredit – https://www.consolidatedcredit.org/debt-relief/nebraska/
  5. unl – https://law.unl.edu/prospective/

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