Nearly 12% of student loans are at least 90 days delinquent, according to new federal data. But borrowers in some states are having more trouble paying their loans than their peers elsewhere.
West Virginia has the highest share of delinquent loan balances, at 17.8%, while South Dakota has the lowest, at 6.6%, according to the latest quarterly data from the New York Federal Reserve Bank.
Outstanding student loan balances increased by $20 billion during the first quarter of 2013, to a total of $986 billion as of March 31. Some 16.2% of Americans have student loans and carry an average balance of $24,810.
The largest share of student loan deadbeats are celebrating their 25th college reunions.
Borrowers age 40-49 have the highest proportion of loans that are at least 90 days behind, according to new data published by the Federal Reserve Bank of New York. And that's been true each quarter since 2005.
Here's a profile of who holds student loans as of the first quarter of 2012:
There are 14 million more student loan borrowers MORETami Luhby - Jul 17, 2012 4:55 PM ET
Lots of American families are underwater...and not just on their mortgages.
About one out of every five U.S. households owe more on credit cards, medical bills, student loans and other debts not backed by collateral than they have in savings and other liquid assets, according to a new University of Michigan report published Tuesday.
The precariousness of Americans' financial situations has become increasingly on display since the mortgage crisis precipitated the Great MORETami Luhby - May 8, 2012 4:26 PM ET
Student loans aren't only an issue the young have to deal with.
Nearly 2 million people age 60 and older are still paying back student loans, according to recent research from the Federal Reserve Bank of New York. And they owe more than $36 billion.
Their average debt? $18,000.
Now, not all this debt is their own. New York Fed researchers don't have a specific breakdown, but believe many seniors incurred this burden MORETami Luhby - Apr 2, 2012 2:54 PM ET
Many see the troubles some are having managing their student loans as an information problem, more than a financial one.
That's because many borrowers don't know what resources are available to them to better manage their student loans. Some 27% of borrowers are behind in their payments, according to a recent report for the Federal Reserve Bank of New York.
It needn't happen in many cases, experts say. Those with federal student MORETami Luhby - Mar 30, 2012 2:31 PM ET
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.87%||3.92%|
|15 yr fixed||3.08%||3.11%|
|30 yr refi||3.85%||3.90%|
|15 yr refi||3.05%||3.09%|
Today's featured rates:
|Latest Report||Next Update|
|Home prices||Aug 28|
|Consumer confidence||Aug 28|
|Manufacturing (ISM)||Sept 4|
|Inflation (CPI)||Sept 14|
|Retail sales||Sept 14|