New Hampshire Debt Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

New Hampshire Debt Statistics 2023: Facts about Debt in New Hampshire reflect the current socio-economic condition of the state.

new-hampshire

LLCBuddy editorial team did hours of research, collected all important statistics on New Hampshire 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 New Hampshire 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 New Hampshire 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 New Hampshire Debt Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 27 New Hampshire Debt Statistics on this page 🙂

New Hampshire Debt “Latest” Statistics

  • According to Forbes, at public colleges, average debt in 2012 was $25,550 (25% higher than in 2008, when the average was $20,450).[1]
  • As of 2018, more than 42 million student loan borrowers have student loan debt of $100,000 or less.[1]
  • Americans had over $905 billion in student loan debt as of the second quarter of 2011, meaning that during the previous ten years, their debt had climbed by more than 91%.[2]
  • According to InCharge, If an individual choose a debt management program, a counselor may negotiate with creditors to decrease interest rates to 8% and create a payment schedule that will help pay off the debt.[3]
  • The average student debt in the US in 2016 was $28,699, and 59% of students nationwide graduated with student debt.[4]
  • In New Hampshire, students graduating from four year public and private colleges in 2016 had an average debt of $36,367, and 74% of graduates had loans.[4]
  • At for profit institutions, the average debt in 2012 was $39,950, which was 26% more than the average debt of $31,800 in 2008.[1]
  • According to Forbes, more than 2 million student loan borrowers have student loan debt greater than $100,000, with 415,000 of that total holding student loan debt greater than $200,000.[1]
  • In the last ten years, courts have settled more than 70% of debt collection cases with default judgments in favor of the plaintiff.[5]
  • According to Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt in the U.S. alone.[1]
  • According to InCharge, the average overall debt in New Hampshire is $95,504.[1]
  • In terms of a percentage, the amount of student loan debt owed by those in their 30s and 40s has climbed by 30.2% during the previous five years.[1]
  • In 2018, 65% of seniors who attended public and private nonprofit universities and graduated had student loan debt.[6]
  • In New Hampshire, the average credit card debt per household is $6,838.[7]
  • The average available credit limit in New Hampshire is $17,679, according to Consolidated Credit.[7]
  • 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.[5]

New Hampshire Debt “Other” Statistics

  • According to the survey, New Hampshire individuals in the college class of 2019 have the highest average student loan balances of any state at over $39,410 dollars.[2]
  • The current overall attainment rate in New Hampshire is 50.6%, according to A Stronger Nation, a study by the Lumina Foundation.[4]
  • At Southern New Hampshire University, the average debt at graduation is $37,047.[8]
  • Students and families may review the Financial Aid and Debt tab on the College Scorecard, an online tool created by the U.S Department of Education, and a three year repayment rate percentage for SNHU borrowers.[9]
  • According to Forbes, 47% of those who took out private loans for education borrowed less than they would have under the government Stafford loan program.[6]
  • 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.[5]
  • According to the U.S. Census Bureau, New Hampshire had a debt of $8,210,346,000 in fiscal year 2015.[10]
  • The state debt per capita of New Hampshire was $6,173.[10]
  • The total state debt owned by the 50 states was $1.15 trillion with a per capita debt of $3,582.[10]
  • During the second quarter of 2019, the debt-to-income ratio for New Hampshire was between 1.62 and 1.75.[10]
  • According to the Federal Reserve System, the median household debt-to-income ratio in New Hampshire during the second quarter of 2020 stood at 1.75 to 1.89, which is above the national average of 1.51.[10]

Also Read

How Useful is New Hampshire Debt

On the surface, debt can often be seen as a burden – something that weighs heavily on the entity that owes it. It can restrict spending, limit options, and even harm credit ratings. However, when we dig deeper, we can see that debt can also be a valuable tool when used effectively.

For a state like New Hampshire, taking on debt can be a strategic decision to invest in the future. By borrowing money, the state can finance important infrastructure projects, such as roads, bridges, and schools, that can have lasting benefits for its residents. These investments can create jobs, improve overall quality of life, and help spur economic growth.

Furthermore, debt can also be a way for New Hampshire to manage cash flow and address budget shortfalls. In times of economic downturn or unexpected expenses, having the ability to borrow can provide a safety net for the state to continue providing essential services to its citizens without major disruptions.

Additionally, debt can allow New Hampshire to take advantage of historically low interest rates. By borrowing now when rates are favorable, the state can finance projects at a lower cost, saving money in the long run compared to waiting for rates to rise.

Of course, it is important for New Hampshire to be responsible in how it manages its debt. Too much debt can be detrimental and lead to financial instability. It is crucial for the state to have a clear plan for how it will repay its debts and to ensure that borrowing is done in a prudent manner.

Transparency and accountability are also key when it comes to debt management. Residents of New Hampshire should be informed about how their tax dollars are being allocated and used, especially when it comes to borrowing and debt repayment.

Overall, debt can be a useful tool for New Hampshire if used wisely and strategically. The state must carefully weigh the costs and benefits of taking on debt and ensure that it aligns with its long-term goals and priorities. By approaching debt management in a thoughtful and deliberate manner, New Hampshire can leverage its debt to invest in a brighter future for all of its residents.

Reference


  1. forbes – https://www.forbes.com/sites/zackfriedman/2018/06/13/student-loan-debt-statistics-2018/
  2. cnbc – https://www.cnbc.com/2021/09/09/america-has-1point73-trillion-in-student-debtborrowers-from-these-states-owe-the-most.html
  3. incharge – https://www.incharge.org/debt-relief/credit-counseling/new-hampshire/
  4. nebhe – https://nebhe.org/policy-research/state-data/new-hampshire-state-data/
  5. pewtrusts – https://www.pewtrusts.org/en/research-and-analysis/reports/2020/05/how-debt-collectors-are-transforming-the-business-of-state-courts
  6. forbes – https://www.forbes.com/sites/zackfriedman/2021/02/20/student-loan-debt-statistics-in-2021-a-record-17-trillion/
  7. consolidatedcredit – https://www.consolidatedcredit.org/debt-relief/new-hampshire/
  8. usnews – https://www.usnews.com/best-colleges/southern-new-hampshire-university-2580
  9. snhu – https://www.snhu.edu/consumer-information
  10. ballotpedia – https://ballotpedia.org/New_Hampshire_state_debt,_2004-2017

Leave a Comment