Student loan debt vs vehicle and credit card debt

According to the Federal Reserve Board’s Survey of Consumer Finances 2016 SCF Chartbook, between 1989 and 2016, the average balance of an educational installment loan ballooned, increasing by 239%. Over that same period of time, the average value of vehicle loans per family has increased only 24% and the average balance of credit card debt increased by 63%.

To younger readers, it might seem expected that student loan balances would average approximately twice that of vehicle loans, but that wasn’t always the case. Prior to the mid-nineties, the average student loan debt was less than the average vehicle loan. 

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