US Household Debt Soars Most Since Crisis

And speaking of student loans, the total amount of debt stood at $1.51 trillion in the fourth quarter, up by $10 billion from 2019 Q3, with more than 11% of aggregate student debt 90+ days delinquent or in default in 2019 Q4. Far more troubling, about half of student loans are currently in deferment, in grace periods or in forbearance and therefore temporarily not in the repayment cycle. Once these loans enter that cycle, delinquency rates are projected to be roughly twice as high, according to the Fed report, but for now everyone is pretending that the US does not have a student loan crisis.


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