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Concerns are now surfacing tit the latest rise in student debt amassing at a staggering $39 Billion USED in 2014, compared to figures from the previous years. Currently at a total for all student loans of $1. 16 Trillion. This is equal to the total debt delinquency figures for all IIS household in Q of 201 1. US household Debt for all finance products including auto, credit card, home equity and student loans continues to rise. This is forecast to maintain the rate of increase into the years ahead.
Bringing the total estimated CSS national debt to more than $18 Trillion USED. Although delinquency rates for home, auto and credit card debt have improved for repayment figures, which indicates a healthier position than previously seen in recent years. Figures for student debt repayments are not as strong. With delinquency figures released earlier this week by the New York Federal Reserve, showing a rise in delinquency of student loan payments at 1 1. 3%, up from the previous year.
The greater fear and emerging legalization of regulators, as well as students whom are either holding or proposing to enter into loans for college; is the impact on their future as well as that of the economy overall. Students who have attained their qualifications that now hold loans for this education, are postponing homeownership, starting a family, cars and borrowing of all types. Being able to service their existing debts, as well as maintain lifestyle, which is taking a toll on more than just their own savings.