Facts & Statistics

Young adults pay over $3 for every dollar borrowed. (Center for Responsible Lending)

• Female-headed families have the lowest family earnings among family types. On average female-headed households earn 30 percent less than their counterparts without children (U.S. Department of Commerce)
• Youth transitioning out of foster care suffer significantly higher rates of incarceration, homelessness, school drop-out and unemployment. Studies have demonstrated that among youth making the transition:
  • more than one in five will become homeless after age 18;
  • merely 58 percent will graduate high school by age 19 (compared to 87 percent nationally);
  • fewer than 3 percent will earn a college degree by age 25 (compared to 28 percent nationally); and
  • one in four will be incarcerated within two years of leaving the system (Jim Casey Youth Opportunities Initiative, http://www.jimcaseyyouth.org/need).
• During the period 2009-2012, the Center for Responsible Lending projects that foreclosures will cost 92 million U.S. families some $1.9 trillion in lower home values--an average of $20,300 in lost wealth per household. (Center for Responsible Lending)
• 12 million Americans are caught in a cycle of 400 percent interest payday lending debt every year. (Center for Responsible Lending)