Student Loan Borrowers Behind on Payments or in Collections
20.0% of adults with outstanding student loans for their own education were behind on payments or in collections in 2024, compared with 16.0% in December 2023
What is the current Student Loan Borrowers Behind on Payments or in Collections?
Student Loan Borrowers Behind on Payments or in Collections: 20% as of 2024, and worsening. Source: Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (SHED).
The Board of Governors of the Federal Reserve System reported in its Survey of Household Economics and Decisionmaking (SHED) that 20% of adults with outstanding student loans for their own education were behind on payments or in collections in 2024.
The Board of Governors of the Federal Reserve System reports in the Survey of Household Economics and Decisionmaking (SHED) that 20% of adults with outstanding student loans for their own education were behind on payments or in collections in 2024.
This is a borrower-status share. It does not measure required payments, loan balances, or payments as a share of income.
This annual series tracks whether adults with outstanding loans for their own education reported being behind on payments or in collections.
SHED later changed to questions about recent payment difficulty. Those results are not appended to this chart because the measure is not comparable with the borrower-status series through 2024.
Explore Further
How has Student Loan Borrowers Behind on Payments or in Collections changed over time?
Most affected counties
Counties with the highest debt burden scores in the County Distress Index.
Explore all 3,144 counties →| Period | Value | YoY Change |
|---|---|---|
| 2024 | 20% | +4.0 pts |
| 2023 | 16% | +1.0 pts |
| 2022 | 15% | — |
| 2019 | 17% | −3.0 pts |
| 2018 | 20% | — |
Frequently Asked Questions
What is Student Loan Borrowers Behind on Payments or in Collections?
20.0% of adults with outstanding student loans for their own education were behind on payments or in collections in 2024, compared with 16.0% in December 2023
Why does Student Loan Borrowers Behind on Payments or in Collections matter for financial distress?
Student Loan Borrowers Behind on Payments or in Collections is one of the indicators tracked by the American Distress Index (ADI), which measures five dimensions of U.S. household financial distress: Delinquency, Default & Legal, Debt Burden, Labor, and Safety Net & Buffer. Changes in this indicator contribute to the overall distress picture.
Where does the Student Loan Borrowers Behind on Payments or in Collections data come from?
This data comes from Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (SHED). More information: https://www.federalreserve.gov/publications/2025-economic-well-being-of-us-households-in-2024-higher-education-and-student-loans.htm. The American Distress Index updates this indicator annual.
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