Borrowers Fall Further Behind on $1.3 Trillion in Student Loans
Paying a Heavy Price for a Higher Education
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Borrowers are having more trouble paying their student loans, even as the job market recovers and consumers improve their mortgage payment histories.
About 11.5 percent of student debt was delinquent or in default for at least 90 days in the quarter that ended in June, up from 11.1 percent in the previous three months, according to data released today by the Federal Reserve Bank of New York. Credit-card delinquencies held steady, at 8.4 percent.