Monitoring Education Debt
The Survey of Consumer Finances is the gold standard in terms of measuring wealth and income. And we’ve managed to sustain the quality of the data by constantly adapting our data collection methods to the needs and preferences of our respondents.
The Survey of Consumer Finances (SCF), which NORC has conducted for the Federal Reserve Board since 1992, is the only fully represented source of information on the financial state of American households. NORC just completed the 2019 round of the SCF’s triennial data collection, and data from 2016 are still revealing insights.
Although the 2016 SCF found broad-based gains in income and net worth since 2013 and a corresponding decrease in many measures of debt, education debt increased substantially.
This increase represents the continuation of a long-term trend that persists across various income levels and demographic groups.