Six Kinds of Debt

Fully 89 percent of Americans with credit records fall into one of six debt types, according to an Urban Institute analysis of millions of credit records over a five-year period of time...

• 29% have no debt
• 22% have only credit card debt
• 13% have only mortgage debt
• 12% have only vehicle debt
• 9% have vehicle and mortgage debt
• 4% have only student loan debt

These "debt styles" depend on lifestage, of course. Mortgage debt, for example, peaks at 41 percent among consumers aged 48 to 52. Student loans peak at 23 percent among those aged 23 to 27. The Urban Institute report examines debt during the 2010-to-2014 time period by age of consumer, including loan balances and credit scores.

Source: Urban Institute, Americans' Debt Styles by Age and Over Time