58% of NY students graduate with an average $30,346 in student debt, study finds

“The second largest debt contributor for New Yorkers is student loans, according to the Federal Reserve Bank of New York (New York Fed). Student loans come in second only to home mortgages, the New York Fed says, and 10.8 percent of those loans are more than 90 days delinquent or in default. Student loans contribute more debt than either auto loans or credit cards and added $20 billion to U.S. household debt in the third quarter of 2019 in an analysis by Liberty Street Economics, a blog written by Federal Reserve Bank of New York economists.


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