Factoids: March 2017

Monday, March 27, 2017 Data provided by the U.S. Department of Education shows that 1.1 million Federal Direct Loan borrowers defaulted on their student loans in 2016, according to the Consumer Federation of America. A total of $137.4 billion in balances were in default (includes loans which defaulted in previous years). A default is defined as being 270 days past due. As of the close of 2016, 42.4 million Americans owed $1.3 trillion in federal student loans. The average amount owed was $30,650, up from an average of $26,300 in 2013

Thursday, March 30, 2017 SNL Kagan reported that one out of every six U.S. households that purchase broadband access is no longer buying a multi-channel pay-television package from the cable company, according to the New York Post. It estimates that the total number of broadband-only homes stood at 15.4 million at the end of 2016. Two million households cut the cord in 2016.

Friday, March 31, 2017 The Trump Administration's proposed $1 trillion infrastructure program is expected to feature public-private partnerships. Private equity firms are already raising capital, according to CNBC. Data from Preqin indicates that 43 new private equity funds targeting North American infrastructure are in the process of raising $30.5 billion. That money is on top of another $68.0 billion in "dry powder" that funds have on hand, but have yet to invest.

Private equity funds and companies seek returns in excess of 10%, and want their money tied up in projects for less than 10 years, according to CNBC. In its 2017 Infrastructure Report Card, the American Society of Civil Engineers gave America a grade of D+, the same grade it gave in 2013.