Student Loan Delinquencies Jump as Crisis Spreads

The share of Americans behind on their student loan payments jumped over the past year despite the improving economy, new data released Thursday show.

About 11.5 percent of outstanding student debt was at least 90 days late or in default as of June 30, up from around 10.9 percent at the same time last year, according to the Federal Reserve Bank of New York. The New York Fed estimates that nearly one in four borrowers whose loans have come due are severely delinquent, or double the published rate, because nearly half of student debt doesn't presently require a monthly payment.

By contrast, the share of total household debt in distress fell to 3.98 percent, New York Fed data show. The figure hasn't been below 4 percent since 2007.

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