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Student loan debt has surpassed credit card debt as the second largest type of debt in American households. From 1999 to 2016, credit card debt grew a meager 23.6 percent compared to student loan debt, which jumped by 828 percent. It's the only category that hasn't seen a decline since 1999, reflecting an increasing amount of borrowing for tuition as well as an increasing amount of overall borrowers. Even after adjusting for inflation, the growth of student loan debt is astronomical.

Expand chart
Data: Federal Reserve Bank of New York's Center for Microeconomic Data; Chart: Lazaro Gamio / Axios

The data: The data used in this chart comes the Federal Reserve Bank of New York's Center for Microeconomic Data. The figures were calculated from a sampling of 5 percent of the population across the United States. The 'other' category includes consumer finance debt, retail card debt and other unclassified debts.

You'll notice a dip in the chart starting after 2008 with all debts, except student loans, seeing a sizable decrease. Mortgage debt fell in 2009 and continued to fall after the housing market crash until the last quarter of 2016, when it increased by 0.82 percent. Credit card debt and auto loans increased faster and earlier. In 2016, credit card debt increased by 4.6 percent from the previous year and auto loans increased by 6.6 percent.

Go deeper

Arizona Judge: Adding mask mandates ban to budget bill is unconstitutional

Arizona Gov. Doug Ducey (R) Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

An Arizona judge ruled Monday that the state's ban on mask mandates in schools, and other measures put into the state budget by Republicans, are unconstitutional, the Arizona Republic reports.

Why it matters: The sweeping ruling voids a ban on vaccine requirements for public universities, community colleges and local governments, and strikes down some non-COVID-related measures like a ban on teaching critical race theory in classrooms and anti-fraud measures for ballots.

56 mins ago - Health

Pfizer testing oral pill for prevention of COVID

Photo: Soumyabrata Roy/NurPhoto via Getty Images

Pfizer announced Monday that it is testing an oral antiviral drug that would help prevent COVID-19.

Why it matters: This drug is one of several antiviral pills that could have a massive impact on coronavirus treatment since not everyone will get a vaccine, and it may take years to fully vaccinate people in certain countries, per Axios' Alison Snyder.

Scoop: Dems' sneaky sabotage

Virginia gubernatorial candidate Glenn Youngkin. Photo: Win McNamee/Getty Images

A group tied to prominent Democratic strategists is posing as a conservative outfit to try to drive a wedge between the Republican candidate for Virginia governor and his core voters, Axios has learned.

Why it matters: The state's gubernatorial race is expected to be tight and could be a national bellwether. As Republican candidate Glenn Youngkin's campaign hypes improving poll numbers, Democrats are trying to chip away at his support in GOP strongholds.