Accessible Version
A Note on the Expected Expiration of Federal Student Loan Forbearance, Accessible Data
Figure 1. Delinquency Rate
Panel A. Borrowers Who Made No Payments
Percent
| Date | Credit card | Auto loan | Mortgage |
|---|---|---|---|
| 2019 Dec | 4.4% | 5.1% | 4.3% |
| 2020 Jan | 4.2% | 5.0% | 4.8% |
| 2020 Feb | 4.5% | 5.1% | 4.0% |
| 2020 Mar | 4.2% | 4.2% | 3.5% |
| 2020 Apr | 3.5% | 4.0% | 3.1% |
| 2020 May | 3.3% | 3.3% | 2.2% |
| 2020 Jun | 2.7% | 2.6% | 1.7% |
| 2020 Jul | 2.5% | 2.8% | 1.7% |
| 2020 Aug | 2.2% | 2.5% | 1.5% |
| 2020 Sep | 2.3% | 2.9% | 1.5% |
| 2020 Oct | 2.6% | 2.9% | 1.2% |
| 2020 Nov | 2.5% | 3.2% | 1.5% |
| 2020 Dec | 2.9% | 3.3% | 1.4% |
| 2021 Jan | 3.0% | 3.6% | 1.1% |
| 2021 Feb | 2.6% | 3.4% | 1.2% |
| 2021 Mar | 2.5% | 2.9% | 1.3% |
| 2021 Apr | 1.9% | 2.6% | 1.0% |
| 2021 May | 1.5% | 2.2% | 1.1% |
| 2021 Jun | 1.2% | 2.5% | 1.1% |
| 2021 Jul | 1.2% | 2.6% | 1.2% |
| 2021 Aug | 1.4% | 3.0% | 1.0% |
| 2021 Sep | 1.6% | 3.3% | 1.4% |
| 2021 Oct | 2.0% | 3.0% | 1.2% |
| 2021 Nov | 2.3% | 3.2% | 1.2% |
| 2021 Dec | 2.5% | 3.6% | 1.5% |
Panel B. Borrowers Who Made Payments
Percent
| Date | Credit card | Auto loan | Mortgage |
|---|---|---|---|
| 2019 Dec | 2.2% | 1.8% | 2.1% |
| 2020 Jan | 2.2% | 1.6% | 1.9% |
| 2020 Feb | 2.3% | 1.7% | 1.8% |
| 2020 Mar | 2.4% | 1.6% | 1.6% |
| 2020 Apr | 2.3% | 1.4% | 1.4% |
| 2020 May | 2.3% | 1.3% | 0.8% |
| 2020 Jun | 2.2% | 1.1% | 0.8% |
| 2020 Jul | 2.1% | 0.7% | 0.9% |
| 2020 Aug | 2.0% | 0.8% | 0.8% |
| 2020 Sep | 2.0% | 1.0% | 1.0% |
| 2020 Oct | 1.8% | 1.1% | 0.6% |
| 2020 Nov | 1.6% | 0.8% | 0.4% |
| 2020 Dec | 1.7% | 1.0% | 0.4% |
| 2021 Jan | 1.8% | 0.9% | 0.7% |
| 2021 Feb | 2.0% | 0.8% | 0.7% |
| 2021 Mar | 1.6% | 0.7% | 0.4% |
| 2021 Apr | 1.2% | 0.6% | 0.5% |
| 2021 May | 1.1% | 0.6% | 0.3% |
| 2021 Jun | 1.0% | 0.5% | 0.5% |
| 2021 Jul | 0.7% | 0.4% | 0.6% |
| 2021 Aug | 0.9% | 0.7% | 0.6% |
| 2021 Sep | 0.7% | 0.9% | 0.6% |
| 2021 Oct | 0.8% | 0.6% | 0.3% |
| 2021 Nov | 0.9% | 0.9% | 0.4% |
| 2021 Dec | 1.0% | 1.2% | 0.4% |
Note: Delinquency measures the fraction of balances that are at least 30 days past due and excludes severe derogatory loans for auto loans and credit cards.
Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.
Figure 2. Equifax Risk Score
Score
| Date | Made Payments | Made No Payments |
|---|---|---|
| 2019 Dec | 699 | 635 |
| 2020 Jan | 699 | 635 |
| 2020 Feb | 700 | 635 |
| 2020 Mar | 701 | 636 |
| 2020 Apr | 704 | 645 |
| 2020 May | 707 | 649 |
| 2020 Jun | 709 | 654 |
| 2020 Jul | 711 | 656 |
| 2020 Aug | 712 | 658 |
| 2020 Sep | 713 | 661 |
| 2020 Oct | 714 | 662 |
| 2020 Nov | 714 | 662 |
| 2020 Dec | 714 | 662 |
| 2021 Jan | 715 | 663 |
| 2021 Feb | 716 | 664 |
| 2021 Mar | 718 | 667 |
| 2021 Apr | 720 | 669 |
| 2021 May | 721 | 670 |
| 2021 Jun | 721 | 670 |
| 2021 Jul | 721 | 670 |
| 2021 Aug | 722 | 670 |
| 2021 Sep | 723 | 670 |
| 2021 Oct | 723 | 671 |
| 2021 Nov | 723 | 670 |
| 2021 Dec | 723 | 670 |
Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.
Figure 3. Credit Card Balances
Billions of dollars (Real)
| Date | Made Payments | Made No Payments |
|---|---|---|
| 2019 Dec | 57 | 56 |
| 2020 Jan | 57 | 56 |
| 2020 Feb | 57 | 56 |
| 2020 Mar | 56 | 55 |
| 2020 Apr | 54 | 53 |
| 2020 May | 52 | 52 |
| 2020 Jun | 51 | 51 |
| 2020 Jul | 50 | 50 |
| 2020 Aug | 50 | 50 |
| 2020 Sep | 50 | 51 |
| 2020 Oct | 50 | 51 |
| 2020 Nov | 50 | 51 |
| 2020 Dec | 51 | 52 |
| 2021 Jan | 50 | 52 |
| 2021 Feb | 49 | 51 |
| 2021 Mar | 48 | 50 |
| 2021 Apr | 47 | 49 |
| 2021 May | 47 | 49 |
| 2021 Jun | 48 | 51 |
| 2021 Jul | 49 | 52 |
| 2021 Aug | 49 | 53 |
| 2021 Sep | 49 | 53 |
| 2021 Oct | 49 | 54 |
| 2021 Nov | 50 | 55 |
| 2021 Dec | 52 | 57 |
Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.
Last Update:
May 27, 2022