A new report from FICO Labs states U.S. student loan delinquency rates climbed by nearly 22% in the past five years.
The delinquency rate on student loans originated from 2005 to 2007 is 12.4%, while the delinquency rate on student loans originated from 2010 to 2012 is 15.1%, FICO said.
The research, which FICO said was based on an examination of 10 million consumer credit files in 2012, also revealed the average amount of U.S. student loan debt increased by 58% from 2005 to 2012 — $17,233 to $27,253 — while average U.S. credit card and auto loan debt amounts declined.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
