Student Loan Debt Jumps

The latest numbers on student loans continue a trend of bad news. Outstanding student loan debt is now at $956 billion, an increase of $42 billion since the last quarter according to the Federal Reserve Bank of New York.  $23 billion is debt that students just took on, and there’s $19 billion in defaults.  The Fed says 11 percent of student loans show delinquency balances of 90+ days.  Experts suggest that is important to try to pay down loans while you are still in school, and attempt to avoid consolidating loans once you graduate.

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Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.