A new report from FICO Labs states U.S. student loan delinquency rates climbed by nearly 22% in thepast five years.
The delinquency rate on student loans originated from 2005 to2007 is 12.4%, while the delinquency rate on student loansoriginated from 2010 to 2012 is 15.1%, FICO said.
The research, which FICO said was based on an examination of 10 million consumercredit 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 amountsdeclined.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.