New Hampshire Debt Statistics


Steve Goldstein
Steve Goldstein
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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

One argument in favor of New Hampshire debt is that it can be a strategic way to fund important infrastructure projects and other initiatives that have the potential to boost economic growth and improve quality of life for residents. By borrowing money, the state can make investments in areas such as transportation, education, and healthcare that are critical for long-term prosperity. In this view, debt can be seen as a necessary cost of progress and development.

Additionally, taking on debt can provide New Hampshire with more flexibility in its budgeting and financial planning. By spreading out the costs of projects over time, the state can smooth out the impact on taxpayers and avoid drastic cuts or tax increases in any one year. This can help to create stability and predictability in government operations, which is important for ensuring that services are delivered efficiently and effectively.

On the other hand, there are concerns about the potential downsides of accumulating debt. One risk is that debt could limit the state’s ability to respond to future economic downturns or emergencies. If a significant portion of the budget is devoted to servicing debt payments, there may be less room to maneuver in times of crisis. This could lead to difficult choices about where to cut spending or raise revenue in order to meet debt obligations.

Another potential consequence of taking on debt is that it can saddle future generations with financial burdens. If debt levels are not carefully managed, New Hampshire could find itself in a situation where future taxpayers are left to pay off debts that were incurred for projects that no longer provide benefits. This intergenerational transfer of costs could undermine social equity and place undue strain on younger residents who had no say in the decision to borrow money.

In conclusion, the question of how useful New Hampshire debt is depends on a variety of factors and perspectives. While debt can be a valuable tool for funding necessary investments and providing budget flexibility, it also carries risks and potential long-term consequences. To make informed decisions about borrowing, policymakers must carefully consider the costs and benefits of taking on debt and weigh the impact on current and future residents. Only through thoughtful and transparent decision-making can New Hampshire ensure that its debt is being used in a responsible and sustainable manner.

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

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