Tags: student | loan | rise | billions

Student-Loan Debt Up $10 Billion in Second Quarter

Wednesday, 29 Aug 2012 12:30 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Debt from educational loans in the U.S. rose 1.1 percent to $914 billion in the second quarter, according to the Federal Reserve Bank of New York.

Outstanding student debt increased from $904 billion three months earlier, the New York Fed said today in a report. The loans were taken out by students and their parents, and the majority are backed by the U.S. government.

Ninety-day delinquency rates for student loans increased to 8.9 percent from 8.69 percent in the first quarter, the New York Fed said. Since the peak in household debt in the third quarter of 2008, student-loan debt has increased by $303 billion, while other forms of debt fell a combined $1.6 trillion.

The loan totals are based on figures from a nationally representative random sample provided by the Equifax Inc. credit bureau.

The federal Consumer Financial Protection Bureau estimated in March that student debt reached the $1 trillion mark. About 15 percent of the debt is private, issued by banks and other lenders.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Tennessee Teen Says 'Bless You' Resulted in Suspension

Thursday, 21 Aug 2014 11:52 AM

Kendra Turner was following her parents' guidance when she said "bless you" after classmate sneezed, but says the courte . . .

Rush Limbaugh: Ditka May Be Fired Over Redskins Remarks

Thursday, 21 Aug 2014 11:35 AM

Conservative commentator Rush Limbaugh has expressed concerns that legendary football coach Mike Ditka will be fired by  . . .

Town Hall Shout-Down: Sen. Bernie Sanders Yells 'Shut Up!'

Thursday, 21 Aug 2014 11:30 AM

A town-hall discussion over the Israel-Palestine conflict gave way to incivility for U.S. Sen. Bernie Sanders, who got c . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved