Student Loan debt grows by $29 Billion
Sharon Edmondson, Washington Legislative Team Member | February 16, 2016
According to a report of the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, Americans took on another $29 billion in student loan debt in the last three months of 2015 bringing the country’s total outstanding to $1.23 trillion.
This represents about 10 percent of America’s total household indebtedness. The report also says that as of December 31, 11.5 percent of student loan debt was in default or at least 90 days delinquent. View the full report here
Household Debt and Credit Developments as of Q4 2015: