In this Wednesday, Dec. 12, 2012 photo, a "Sale" sign is reflected in a mirror as a shopper walks though the women's section of an H&M store in Atlanta. The Federal Reserve reports how much consumers borrowed in December on Thursday, Feb. 7, 2013. (AP Photo/David Goldman)
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In this Wednesday, Dec. 12, 2012 photo, a "Sale" sign is reflected in a mirror as a shopper walks though the women's section of an H&M store in Atlanta. The Federal Reserve reports how much consumers borrowed in December on Thursday, Feb. 7, 2013. (AP Photo/David Goldman)
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In this Wednesday, Dec. 12, 2012 photo, Lana Nguyen, right, holds clothes to try on as she shops with Lisa George, left, and friends in an H&M store, in Atlanta. The Federal Reserve reports how much consumers borrowed in December on Thursday, Feb. 7, 2013. (AP Photo/David Goldman)
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In this Wednesday, Dec. 12, 2012 photo, Dominic Plummer, of Atlanta, shops in an H&M store, in Atlanta. The Federal Reserve reports how much consumers borrowed in December on Thursday, Feb. 7, 2013. (AP Photo/David Goldman)
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Federal Reserve Chairman Ben Bernanke offers the keynote speech at the Operation HOPE Global Financial Dignity Summit Thursday, Nov. 15, 2012, in Atlanta. Bernanke said Thursday that banks' overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes. (AP Photo/David Goldman)
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Federal Reserve Chairman Ben Bernanke puts his speech away into his jacket pocket after offering the keynote speech at the Operation HOPE Global Financial Dignity Summit Thursday, Nov. 15, 2012, in Atlanta. Bernanke said Thursday that banks' overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes. (AP Photo/David Goldman)
More Americans struggle to repay student loans
WASHINGTON (
AP) — More Americans are falling behind on student loans, threatening their ability to obtain mortgages and other credit in the future.
The Federal Reserve Bank of New York says more than 31 percent of people with student loans at the end of last year were 90 or more days delinquent. That compares with less than 25 percent at the end of 2008.
Student loans were the only type of credit to increase through the Great Recession and afterward. Student debt amounted to $966 billion at the end of last year, up 34 percent from four years earlier.
Meanwhile, delinquency rates for other categories of loans are improving. The percentage of borrowers behind on mortgages, home equity and auto loans fell from the July-September quarter of last year to the October-December quarter.
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