Student Loan Borrowers Behind on Payments or in Collections
Share of adults with outstanding student loans for their own education who were behind on payments or in collections
What was the last verified Student Loan Borrowers Behind on Payments or in Collections reading?
In 2024, 20% of adults with student loans for their own education told the Federal Reserve Board's Survey of Household Economics and Decisionmaking that they were behind on payments or that the loans were in collections. Loans taken out for a child's or someone else's schooling are not counted. The survey asks U.S. adults about their finances once a year.
What it means for households: Student Loan Default & Delinquency Statistics Behind on payments? Your Rights with Debt Collectors
How the Student Loan Borrowers Behind on Payments or in Collections has moved since 2018
Student loan borrowers behind or in collections, 2024: 20%
Student Loan Borrowers Behind on Payments or in Collections: 20.0% in 2024. Annual, 2018–2024.
What the Student Loan Borrowers Behind on Payments or in Collections measures
A higher rate is worse for households.
Student Loan Borrowers Behind on Payments or in Collections by year, 2018 to 2024
| Year | Rate (%) | Change from a year earlier (percentage points) |
|---|---|---|
| 2024 | 20.0 | +4.0 |
| 2023 | 16.0 | +1.0 |
| 2022 | 15.0 | — |
| 2019 | 17.0 | −3.0 |
| 2018 | 20.0 | — |
Annual · Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (SHED)
Counties with the highest debt burden scores
There's no county figure for this measure, so this list uses the debt burden part of our County Distress Index.
| Rank | County | Score (0–100) |
|---|---|---|
| 1 | Bronx County, NY | 99.6 |
| 2 | Miami-Dade County, FL | 99.4 |
| 3 | Rockland County, NY | 99.4 |
| 4 | Clayton County, GA | 99.1 |
| 5 | Broward County, FL | 99 |
| 6 | Palm Beach County, FL | 98.8 |
| 7 | Santa Barbara County, CA | 98.4 |
| 8 | St. Lucie County, FL | 98.4 |
| 9 | Osceola County, FL | 98.3 |
| 10 | Orleans Parish, LA | 98 |
Questions about student loan borrowers behind on payments
What does the SHED student loan measure track?
It is the share of adults with outstanding student loans for their own education who told the survey they were behind on payments or in collections. The 2024 reading was 20%.
How has the share changed?
In 2024 the share was 20%, up from 16% in 2023. It is the highest share since 2018, when it was 20%.
How does this differ from the New York Fed student loan delinquency rate?
SHED reports the share of borrowers who say they are behind on payments or in collections. The Federal Reserve Bank of New York reports the share of outstanding student loan balances that are seriously delinquent. The two use different denominators, people versus dollars, and are not interchangeable.
Where does this data come from?
The Federal Reserve Board publishes the Survey of Household Economics and Decisionmaking (SHED) once a year. It surveys a nationally representative sample of U.S. adults about their financial lives.
Sources and method for the Student Loan Borrowers Behind on Payments or in Collections
- Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (SHED) We use the annual figures as published, from 2018 through 2024, with no adjustment of our own. Board of Governors of the Federal Reserve System’s report
We write with assistance from AI tools. Figures come from the data and sources named on this page.