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U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion
U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion
Alexandre Tanzi
(Bloomberg) —
Student-loan delinquencies surged last year, hitting consecutive records of $166.3 billion in the third quarter and $166.4 billion in the fourth.
Bloomberg calculated the dollar amounts from the Federal Reserve Bank of New York’s quarterly household-debt report, which includes only the total owed and the percentage delinquent at least 90 days or in default.
That percentage has remained around 11 percent since mid-2012, but the total increased to a record $1.46 trillion by December 2018, and unpaid student debt also rose to the highest ever.
U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion
Delinquencies continued to climb even as the unemployment rate fell below 4 percent, suggesting the strong U.S. job market hasn’t generated enough w
Read more at: https://www.bloombergquint.com/business/u-s-student-debt-in-serious-delinquency-tops-166-billion#gs.yfAMYl9e
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