Debt Relief Center.org
The Debt Relief Center asks a few simple question so that we may understand your current situation

No suitable video player available.
Your Free Debt Savings Estimate
  • It's fast and convenient
  • It's your right to get relief
  • Your savings may surprise you
  • It's free, no commitment
See Savings
Your Free Debt Relief Savings Estimate only
takes a few minutes and will not affect your credit.

Student Loan Debt Rises In November, Federal Reserve Says

Share this on:

Student loan debt rises in November, according to the Federal Reserve. While Americans continued to cut their credit card use during the month of November, The Federal Reserve says student loan debt was a factor in the overall increases in consumer credit.

The total figure for outstanding consumer loans increased by 0.7 percent, bringing the overall total to around $2.4 trillion for November.

Nonrevolving credit - a loan type usually applied to large purchases such as a home mortgage down payment or college tuition - rose by 4.2 percent to $1.61 trillion for the month. Most of this money was in the form of student loans, which rose due to a recently passed law that makes the government the primary lender to students, The Wall Street Journal reports.

However, revolving credit - the kind generally reserved for purchases made with credit cards - decreased during this time, by 6.3 percent to $796 billion. The last time consumers took on more credit card debt than in a previous month was August 2008, the news source says.

The report marked the 27th consecutive month that consumer have reduced their overall borrowing.

Timely articles written by the Editors at DRC

New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.


A fast and easy way to get your debt relief evaluation and savings estimate.

Debt Amount
Slide handle to set approximate debt amount.
Less debt
More debt