NY Fed Report: Student Loan Debt Piles Up; Now at $1.16 Trillion

While overall delinquency rates were unchanged at 4.3 percent in the fourth quarter, delinquency rates for auto loans and student loans worsened, according to the New York Federal Reserve. “Although we’ve seen an overall improvement in delinquency rates since the Great Recession, the increasing trend in student loan balances and delinquencies is concerning,” said Donghoon Lee, research officer at the NY Fed. “Student loan delinquencies and repayment problems appear to be reducing borrowers’ ability to form their own households.”