Student Loan & Health Care

 

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US - How much student debt is there?

Student debt has more than doubled over the last two decades. As of September 2022, about forty-eight million U.S. borrowers collectively owed more than $1.6 trillion in federal student loans. Additional private loans bring that total to above $1.7 trillion, surpassing auto loans and credit card debt. Only home mortgage debt, at about $12 trillion, is larger. https://www.cfr.org/backgrounder/us-student-loan-debt-trends-economic-impact

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US - Student Loan Debt Statistics

Report Highlights. Student loan debt in the United States totals $1.745 trillion. 

The debt accumulation rate is slowing, and recent analytics indicate that most consumers manage their student loan debt responsibly.
The outstanding federal loan balance is $1.617 trillion and accounts for 92.7% of all student loan debt. 42.8 million borrowers have federal student loan debt.
The average federal student loan debt balance is $37,787 while the total average balance (including private loan debt) may be as high as $40,780.
Less than 2% of private student loans enter default as of 2021’s fourth financial quarter (2021 Q4). The average public university student borrows $32,880 to attain a bachelor’s degree. https://educationdata.org/student-loan-debt-statistics#

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US -Health Care?

In 2020, the average national cost for health insurance is $456 for an individual and $1,152 for a family per month. However, costs vary among the wide selection of health plans. Understanding the relationship between health coverage and cost can help you choose the right health insurance for you.

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Medicaid & CHIP coverage. Medicaid and the Children's Health Insurance Program (CHIP) provide free or low-cost health coverage to millions of Americans, including some low-income people, families and children, pregnant women, the elderly, and people with disabilities. https://www.healthcare.gov/medicaid-chip/getting-medicaid-chip/

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112 Million Americans Struggle to Afford Healthcare

WASHINGTON, D.C. — Mar. 31, 2022 — An estimated 112 million (44%) American adults are struggling to pay for healthcare, and more than double that number (93%) feel that what they do pay is not worth the cost. The findings come from two new composite scores developed by the nonprofit, nonpartisan organization West Health and Gallup, the global analytics and advice firm, to assess the healthcare cost crisis.

The West Health-Gallup Healthcare Affordability Index and Healthcare Value Index are drawn from the opinions of more than 6,600 American adults and represent findings from one of the largest surveys fielded during the pandemic on the state of healthcare in America. Each index is comprised of three unique metrics and classifies adults into corresponding categories based on their experiences. The Healthcare Affordability Index assesses the public’s ability to afford the healthcare they need, while the Healthcare Value Index synthesizes Americans’ perceptions of the quality-of-care relative to cost. West Health and Gallup developed these metrics after the rate of Americans reporting skipping needed care due to cost tripled during 2021. https://www.westhealth.org/press-release
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States with the Cheapest Obamacare in 2021

At $292 per year, Minnesota has the cheapest average benchmark premium in 2021. Minnesota’s premium is more than $150 less than the average national benchmark premium of $443 per month (before a tax credit). The five cheapest states for premiums in 2021 are: Minnesota: $292
New Hampshire: $325 Rhode Island: $328 New Mexico: $329 Michigan: $335 https://healthcareinsider.com/

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*When a medical debt goes unpaid, the health care provider can assign it to a debt collection agency. In a worst-case scenario, you could be sued for unpaid medical bills. If you were to lose the case, a creditor or debt collector could then take action to levy your bank account or garnish your wages as payment.

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Hospitals - Health Care?

The hospital was one of the great achievements of medieval Islamic society. The relation of the design and development of Islamic hospitals to the earlier and contemporaneous poor and sick relief facilities offered by some Christian monasteries has not been fully delineated. Clearly, however, the medieval Islamic hospital was a more elaborate institution with a wider range of functions.

The most important of the Baghdad hospitals was that established in 982 (372 H) by the ruler `Adud al-Dawlah. When it was founded it had 25 doctors, including oculists, surgeons, and bonesetters. In 1184 (580 H) a traveller described it as being like an enormous palace in size. https://www.nlm.nih.gov/exhibition/

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World's First Higher Education Institutions

Read Here: https://www.dailysabah.com/

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Edited by CFC