In the second quarter of the US, the proportion of severely delinquent consumer loans reached the highest level in five years.

Due to the record high amount of overdue student loans, the proportion of seriously overdue loans in consumer loans in the second quarter of the United States reached the highest level since early 2020. The New York Fed said on Tuesday in its Quarterly Report on Household Debt and Credit that around 3% of debts were overdue by at least 90 days during the period from April to June, higher than the 2.8% in the first quarter. The proportion of student loans entering serious overdue status was 12.9%, the highest level since the data began 21 years ago. The rise in delinquency rates indicates that American households are facing increasingly severe financial pressures this year against a backdrop of high interest rates and slowing hiring. Recent data shows that consumer spending in the first six months of 2025 has already decreased even before tariffs push up prices.