Student Loan Delinquency Reached $85 billion in the 3rd quarter of 2011

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Written By: Emil Fleysher | Published Date: March 15, 2012,

The Federal Reserve Bank of New York posted a report on their website recently regarding student loans. The following is some of their findings:

  • About $85 billion in US student loan debt, or 10 percent of the outstanding balance, was delinquent; in the third quarter of 2011.
  • Of the 37 million borrowers who have student-loan balances, 14%, or about 5.4 million people, have at least one past due student-loan account.
  • As many as 47 percent of student-loan borrowers appear to be in deferral or forbearance; and didn’t have to make a payment as of the third quarter.
  • The debt from student-loans reached $867 billion in the fourth quarter of 2011, higher than credit-card debt.

If you have questions about foreclosure, loan modification, bankruptcy, or other alternatives, please feel free to call my office at 954-484-9987. Or, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.

Emil Fleysher
Bankruptcy & Debt Lawyer

Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies. 

He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.

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