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.
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. View all posts by Barbara Nevins Taylor