Student Debt Hits The Middle-Aged

Josh Mitchell:

Student debt is rising sharply among all age groups, but middle-aged Americans appear to be struggling the most with payments, according to new data released Tuesday by the Federal Reserve Bank of New York.

The delinquency rate--or the percentage of debt on which no payment has been made for 90 days--was 11.9% for debt held by borrowers aged 40 to 49 as of March. That compares with a rate of 8.7% for borrowers of all ages.

The New York Fed, which based its data on a sampling of consumer credit reports, said delinquency rates for all groups are much higher if one excludes loans in deferment for reasons such as a borrower still being in school.

Posted by Jim Zellmer at July 22, 2012 2:04 AM
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