US student loan debt has eclipsed the $1.2tn mark in the 3Q 2015, says the NY Fed. Total repayments more than 90 days' overdue hit 11.6%, up from last year, making student debt delinquency now worse than mortgage delinquency at the peak of the housing crisis. This reveals that rather than improving, the student loan problem is steadily worsening, despite the availability of government programmes to help borrowers stay current on their loans.
US student loan debt has eclipsed the $1.2tn mark in the 3Q 2015, says the Federal Reserve. Total repayments more than 90 days' overdue hit 11.6%, up from last year, making student debt delinquency now worse than mortgage delinquency at the peak of the housing crisis. This reveals that rather than improving, the student loan problem is steadily worsening, despite the availability of government programmes to help borrowers stay current on their loans.