Debt continues to be a growing problem for students and graduates across the nation.
According to a study released by New York Fed, in the final quarter of 2014 the student loan debt balance rose by $31 billion to $1.16 trillion.
Throughout the past decade the balance has steadily increased as more students are facing problems with repayment. The study stated in the last 3 months of 2014, 11.3 percent of student loans were delinquent. 
Donghoon Lee said to Bloomberg Business delinquency and repayment problems among loan holders have prevented many from forming their own household.  
According to New York Fed delinquency rates have decreased since 2013 when they were 11.8 percent. Lee stated although there have been improvements in delinquency rates they’re still a cause for concern. 
New York Fed stated student loan debt are now the form of debt most likely to be past-due passing credit card delinquency in 2012.