The student loan crisis may be even worse than it previously appeared: Not only are college students graduating with more debt than ever, but their risk of defaulting on their loans is higher than ever, a new study by FICO Labs reveals.
Credit card debt fell sharply in the second quarter as more consumers paid down debts.
Average credit card debt fell 13.4% to $4,951 in the second quarter, the lowest since 2002, analysis company TransUnion said in a statement. The state with the highest average credit card debt was Alaska, with $7,148. The lowest was in Iowa, with $3,792.