Student Loan Delinquency Hit $85B in Q3

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Student Loan Delinquency Hit $85B in Q3

Bloomberg News

March 5, 2012

About $85 billion in U.S. student loan debt, or 10 percent of the outstanding balance, was delinquent in the third quarter of 2011. Of the 37 million borrowers who have student-loan balances, 14 percent, or about 5.4 million people, have at least one past due student-loan account, according to a report posted today on the Federal Reserve Bank of New York's website. "The student loan delinquency picture is not fully captured in the broad statistics since a significant proportion of borrowers and balances are not yet in the repayment cycle," they wrote.

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