U.S. Student Loan Balances Were $1.651 Trillion in the Second Quarter of 2026
The Fact
The Federal Reserve Bank of New York reported student loan balances of $1.651 trillion in the second quarter of 2026.
What This Means
Student debt is one of the largest kinds of household debt in the country, behind mortgages.
Why It Matters
Money that goes to student loan payments is money that cannot go to rent, savings, or a down payment.
Sources
Federal Reserve Bank of New York. Household Debt and Credit Report, Q2 2026 (press release Aug. 11, 2026). https://www.newyorkfed.org/newsevents/news/research/2026/20260811