How are those student loan payments coming along? Not so well, according to an analysis by the Federal Reserve Bank of New York. Tracking the payment status of outstanding student loans from the 4th quarter of 2004 through the 4th quarter of 2012, the study finds only 39 percent of borrowers repaying their student loan debt in a timely manner. Here is the repayment status of outstanding student loans as of the 4th quarter of 2012...
Debt not yet in repayment, balance growing: 30%
Debt not yet in repayment, balance stable: 14%
Debt in repayment, balance delinquent: 17%
Debt in repayment, balance not delinquent: 39%
Source: Federal Reserve Bank of New York, Household Debt and Credit Report, Household Debt and Credit: Student Debt Presentation by Donghoon Lee
1 comment:
I'm not sure about this. If my balance is not yet in repayment, I don't feel that counts as delinquent. While I'm still in school, my repayment is deferred, not delinquent.
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