U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion
- Amount in arrears reaches a record high as college costs rise
- If the loans aren’t repaid, federal deficits also will rise
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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.