Student loan debt growing and so is the delinquency rate

According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit Total, consumer debt in the U.S. fell again in the third quarter. This figure has been falling for four years. As consumer debt has been falling, so have consumers’ delinquency rates. As of Sept. 30, 8.9 percent of outstanding household debt was in some stage of delinquency, with 6.6 percent at least 90 days late.

 

 

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