(New York, NY) — More Americans are falling behind on their bills because of student-loan payments.
The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit report released Tuesday shows about four-point-four percent of U.S. accounts were delinquent in the second quarter. That’s up from four-point-three percent in the first quarter, and three-point-two percent in the second quarter of last year.
The report says the rise in late bills is being driven largely by the return of student-loan payments after a nearly five-year pause, and by delinquent loans being reported to collection agencies again.
Total debt among U.S. households also rose in the second quarter, by about one percent.
