Consumer debt for every major consumer lending category has decreased over the past few years, except for student loans. Student loans have increased by 84 percent since the recession (from 2008 to 2014) and have surpassed home-equity loans/lines of credit, credit card and automotive debt. Overall, the total amount of student loan debt has reached an all-time high of $1.2 trillion.
Student Loan Growth
The statistics emphasize the importance of staying on top of the latest credit trends in order to adjust lending strategies and uncover areas of opportunity.