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U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion - ABI

Student-loan delinquencies surged last year, hitting consecutive records of $166.3 billion in the third quarter and $166.4 billion in the fourth, Bloomberg News reported. Bloomberg calculated the dollar amounts from the Federal Reserve Bank of New York’s quarterly household-debt report, which includes only the total owed and the percentage delinquent at least 90 days or in default. That percentage has remained around 11 percent since mid-2012, but the total increased to a record $1.46 trillion by December 2018, and unpaid student debt also rose to the highest ever. Delinquencies continued to climb even as the unemployment rate fell below 4 percent. The age group transitioning into the "serious delinquency" category at the fastest pace is 40-to-49 year-olds.

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