US Consumer Delinquencies Stay Elevated as Student Loans Hit Post-2020 High
Serious delinquency rates across US student loans, credit cards, and auto loans remain historically elevated, with student loan delinquencies reaching their highest level since Q1 2020.
US households are showing continued stress in meeting debt obligations, with serious delinquency rates across several loan categories remaining historically elevated.
Student loan serious delinquencies rose by 0.3 percentage points in Q2 2026 to 10.6%, the highest since Q1 2020. This was the third straight quarterly increase, bringing the cumulative rise to 1.2 percentage points.
Credit card accounts 90 or more days delinquent reached 12.9%, the second-highest level since Q1 2011. For context, the post-financial-crisis peak was 13.7% in Q2 2010.
Auto loan 90-plus-day delinquencies hit 5.5%, the second-highest on record and 0.2 percentage points above the Q4 2010 high.
Source: The Kobeissi Letter