Debt isn't something we talk about in public. It's one of those topics we, as polite Michiganders, shy away from. Though 'being in debt' may be a taboo topic, there is never any shortage of advice on making the purchases that will put you in the hole.

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If you give another homeowner even the slightest hint you're considering purchasing a house, brace yourself for a slew of unsolicited opinions. Looking at buying a car? Here comes a bunch of help you never asked for.

Why Isn't Student Loan Debt Discussed More?


I may be the last generation that remembers Home Economics being taught in Michigan schools. In addition to discussing how to manage a household budget, we were tasked with finding a car and home that would match the lifestyle provided by our chosen profession. We also made cookies. I loved that class.

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However, not once do I recall the topic of student loan debt coming up. I remember being told I needed a college education to be 'successful in life', but I cannot for the life of me remember anybody talking about how to pay for it.


Here's a look at some Michigan student loan statistics from LendingTree:

  • Average student loan debt: $44,296 (1.7% above the national average)
  • Median student loan debt: $23,346
  • Total student loan debt: $51.8 billion
  • Total student loan borrowers: 1,430,900
  • Percentage of residents with student loan debt: 14.2%
  • Percentage of student loan debtors who owe $20,000 to $40,000: 21.8%
  • Percentage of student loan debtors who owe $100,000 to $200,000: 5.2%
  • Percentage of student loan debtors 25 to 34 years old: 34.6%
  • Percentage of student loan debtors 35 to 49 years old: 30.1%
  • Borrower delinquency rate: 7.9%

How does Michigan's student loan debt stack up against the rest of the United States?

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