Student loan debt is DELAYING life milestones

Americans' household debt continued its steady climb to hit a record $18.8 trillion, according to the New York Fed's quarterly report on household debt.

Total household debt increased by $18 billion, or 0.1%, in the first quarter of the year, the report released Tuesday showed.

Several subcategories of household debt – mortgages, auto loans, and home equity lines of credit – all increased last quarter.

Student loans and credit cards both fell. The drop in student loan balances was relatively small, and it’s typical for credit card balances to fall in the first quarter as consumers use tax refunds and New Year’s resolutions to pay down their debt.

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