U.S. household debt has surged to an all-time high, reaching **$18.59 trillion** in the third quarter of 2025 (July through September), according to the latest report from the **Federal Reserve Bank of New York**. This marks a **$197 billion (1%) increase** from the previous quarter and a **$4.4 trillion rise** since the end of 2019.
The Fed researchers described the pace of debt growth as “moderate,” noting that while Americans’ overall household balance sheets remain “pretty strong,” **early signs of financial stress are emerging among younger borrowers**.
A key concern is **student loan debt**, which hit a record **$1.65 trillion** in Q3 2025. Delinquency rates have climbed sharply—**9.4% of student loan balances are now at least 90 days past due**, up from **7.8% in Q1**. This signals growing repayment difficulties, particularly for recent graduates.
Other debt categories also show notable trends:
- **Credit card debt** reached a new high of **$1.23 trillion**, up **$24 billion** from the previous quarter and **nearly 6% higher** than a year earlier.
- **Auto loan balances** held steady at **$1.66 trillion**.
- **Mortgage debt** grew by **$137 billion** to **$13.07 trillion**, continuing its upward trajectory.
While delinquency rates for auto loans and credit cards have not surpassed their mid-2024 peaks, the spike in student loan defaults and record credit card balances suggest mounting pressure on household finances—especially for younger Americans.
The findings are based on the New York Fed’s **Consumer Credit Panel**, a nationally representative dataset drawn from **Equifax credit reports**, offering a comprehensive view of U.S. borrowing and repayment behavior.