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The Geography of Student Debt
Posted By Guest Author On May 21, 2013 @ 5:00 am In Think Tank | Comments Disabled
The Geography of Student Debt 
Andrew Haughwout, Donghoon Lee, Wilbert van der Klaauw, and Joelle Scally
May 14, 2013
This morning, the New York Fed released its Quarterly Report on Household Debt and Credit for 2013 Q1 . The report uses the FRBNY Consumer Credit Panel to show that outstanding household debt declined approximately $110 billion (about 1 percent) from the previous quarter. The drop was due in large part to a reduction in housing-related debt and credit card balances. Meanwhile, delinquency rates for each form of consumer debt declined, with the overall ninety-plus day delinquency rate dropping from 6.3 percent to 6.0 percent.
One of the unique aspects of the FRBNY Consumer Credit Panel, which is itself based on Equifax credit data, is the detail we obtain for each kind of household debt. This quarter, we have taken advantage of the geographic information available in the data set and are introducing a set of maps  of our student loan data, which indicate regional variation in several dimensions of student debt. They depict:
Student loan indebtedness and delinquency continue to generate intense interest and we look forward to sharing data and perspectives that help define the scope of this important issue.
The views expressed in this post are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the authors.
Andrew Haughwout  is a vice president in the Research and Statistics Group.
Donghoon Lee  is a senior economist in the Group.
Wilbert van der Klaauw  is a senior vice president in the Group.
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2013/05/the-geography-of-student-debt/
URLs in this post:
 The Geography of Student Debt: http://libertystreeteconomics.newyorkfed.org/2013/05/just-released-the-geography-of-student-debt.html
 Quarterly Report on Household Debt and Credit for 2013 Q1: http://www.newyorkfed.org/research/national_economy/householdcredit/DistrictReport_Q12013.pdf
 a set of maps: http://www.newyorkfed.org/householdcredit/
 Image: http://libertystreeteconomics.typepad.com/.a/6a01348793456c970c01910220c213970c-popup
 Andrew Haughwout: http://www.newyorkfed.org/research/economists/haughwout/index.html
 Image: http://libertystreeteconomics.typepad.com/.a/6a01348793456c970c01910220c29d970c-popup
 Donghoon Lee: http://www.newyorkfed.org/research/economists/lee/index.html
 Image: http://libertystreeteconomics.typepad.com/.a/6a01348793456c970c01910220c330970c-popup
 Image: http://libertystreeteconomics.typepad.com/.a/6a01348793456c970c017eeb283088970d-popup
 Wilbert van der Klaauw: http://www.newyorkfed.org/research/economists/vanderklaauw/index.html
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