<p><div><div><div><div data-width="100" data-show-faces="false" data-send="true" data-layout="button_count" data-height="21" data-href="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/"></div></div><div><a data-url="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/" data-counturl="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/" data-count="horizontal" data-text="The inexorable growth of student debt, charted with R" class="twitter-share-button" data-via="rbloggers" href="https://twitter.com/share"></a></div><div></div></div><div></div></div>
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(This article was first published on <strong><a href="http://blog.revolutionanalytics.com/2016/08/student-debt.html"> Revolutions</a></strong>, and kindly contributed to <a rel="nofollow" href="https://www.r-bloggers.com/">R-bloggers)</a> </div>
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<p>Len Kiefer, Deputy Chief Economist at Freddie Mac, recently <a target="_blank" href="http://lenkiefer.com/2016/08/09/trends-in-credit">published the following chart to his personal blog</a> showing household debt in the United States (excluding mortgage debt). As you can see, student loan debt has steadily increased over the last 13 years and has now eclipsed all other forms of non-mortgage debt:</p>
<p><a target="_blank" href="http://revolution-computing.typepad.com/.a/6a010534b1db25970b01b8d21111de970c-pi"><img title="Student debt" alt="Student debt" src="http://revolution-computing.typepad.com/.a/6a010534b1db25970b01b8d21111de970c-800wi" border="0"></a></p>
<p>He also created this animated chart showing the growth (and occasional decline) of all forms of debt (including mortgages). All categories are scaled to the same nominal value in March 2003, and since that time student debt in the US has more than quintupled.</p>
<p><a target="_blank" href="http://revolution-computing.typepad.com/.a/6a010534b1db25970b01b7c88761eb970b-pi"><img title="Debt balances 2016Q2" alt="Debt balances 2016Q2" src="http://revolution-computing.typepad.com/.a/6a010534b1db25970b01b7c88761eb970b-800wi" border="0"></a></p>
<p>Both charts were created using the R language (the code is included in the blog post linked below). The data come from the <a target="_blank" href="https://www.newyorkfed.org/newsevents/news/research/2016/rp160809">New York Federal Reserve</a>, which Robert reads into R using <a target="_blank" href="http://www.rdocumentation.org/packages/data.table/versions/1.9.6/topics/fread">fread</a> from the <a target="_blank" href="https://github.com/Rdatatable/data.table/wiki">data.table package</a>. The line charts were created using the <a target="_blank" href="http://ggplot2.org/">ggplot2 package</a>, with the <a target="_blank" href="http://blog.revolutionanalytics.com/2016/01/avoid-overlapping-labels-in-ggplot2-charts.html">ggrepel extension</a> to keep the labels from overlapping. The animated version was created using the <a target="_blank" href="http://www.rdocumentation.org/packages/animation/versions/2.4.1/topics/saveGIF">saveGIF</a> function of the <a target="_blank" href="http://yihui.name/animation/">animation package</a>.</p>
<p>For more charts (including some interesting by-state charts) and the complete details on the implementation, follow the link to Len's blog below.</p>
<p>Len Kiefer: <a target="_blank" href="http://lenkiefer.com/2016/08/09/trends-in-credit">Consumer Credit Trends</a> (<a target="_blank" href="https://twitter.com/sharon000/status/763334999315587072">via</a> Sharon Machlis)</p>
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<p><div><div><div><div data-width="55" data-show-faces="false" data-send="true" data-layout="box_count" data-height="62" data-href="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/"></div></div><div><a data-url="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/" data-counturl="https://www.r-bloggers.com/the-inexorable-growth-of-student-debt-charted-with-r/" data-count="vertical" data-text="The inexorable growth of student debt, charted with R" class="twitter-share-button" data-via="rbloggers" href="https://twitter.com/share"></a></div><div></div></div><div></div></div>
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<div>To <strong>leave a comment</strong> for the author, please follow the link and comment on their blog: <strong><a href="http://blog.revolutionanalytics.com/2016/08/student-debt.html"> Revolutions</a></strong>.</div>
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