Key Takeaways U.S. household debt encompasses mortgages, car loans, credit cards and student loans.
Total household debt hit a record high of $18.59 trillion from July through September of this year.
The number marked a 1% increase from the previous quarter, showing that debt balances “are growing at a moderate pace,” according to researchers.
U.S. household debt levels have reached an all-time high, according to the latest data released on Wednesday by the Federal Reserve Bank of New York. Debt includes all major categories, such as mortgages, car loans, credit card balances and student loans.
Total household debt hit a record high of $18.59 trillion from July through September of this year, a $197 billion (1%) increase from the previous quarter, per the report. Overall, debt has jumped by $4.4 trillion since the final quarter of 2019.
Researchers at the Federal Reserve Bank of New York said in a statement that debt balances “are growing at a moderate pace,” pointing to the 1% increase. In a call with reporters, attended by ABC News, the researchers reported that although Americans’ overall household balance sheets remain “pretty strong,” younger borrowers are showing emerging signs of weakness.
For example, Americans’ student loan debt has hit a new record, totaling $1.65 trillion in the third quarter of 2025. Delinquency rates have sharply increased, with 9.4% of all student loan balances now considered 90 days delinquent or more, meaning borrowers are late or not paying at all. The percentage has increased from 7.8% in the first quarter.
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Although student loan delinquencies are at a record high, delinquencies for auto loans and credit cards have not reached the peak levels seen in mid-2024, according to analysts.
However, credit card balances reached an all-time high in the third quarter of the year, growing by $24 billion to reach $1.23 trillion. Credit card debt grew nearly 6% compared to the same time last year.
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