Student loan debt is growing in the U.S. Now, there's a rise in the number of younger people not paying off those debts on time.
FOX News Radio's Bill Vitka reports:
The size of student loan debt is big and getting bigger. The amount owed jumped 11% last year to $966 billion. That's a 51% spike since 2008. The New York Fed said 35% of people under 30, who have loans are at least 90 days late on their payments. That's up from 26%, five years ago. Forty percent of students in hock owe less than $10,000. Nearly 47% owe as much as $50,000 dollars; up from 38%, five years ago. Among those 25 years-old: 43% owed money at the end of last year. Student loan debt is rising even as other types of consumer debt in the same age group, has been falling.
Bill Vitka, FOX News Radio.