Story perspectives

Consumer Debt Hits Record $18.8 Trillion Amid Rising Delinquencies

4/18/2026

Summary

Story summary

Consumer debt has risen to a record $18.8 trillion as consumer spending strains under inflation and higher interest rates.
Growth in revolving credit has slowed, while the personal savings rate is at its lowest since 2008.
Delinquencies on credit cards and student loans are rising, with 9.6% of student loan balances overdue.
The economy's reliance on credit raises concerns about sustainability and could hamper future growth as borrowing approaches limits.

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Story summary

Consumer debt has risen to a record $18.8 trillion as consumer spending strains under inflation and higher interest rates.
Growth in revolving credit has slowed, while the personal savings rate is at its lowest since 2008.
Delinquencies on credit cards and student loans are rising, with 9.6% of student loan balances overdue.
The economy's reliance on credit raises concerns about sustainability and could hamper future growth as borrowing approaches limits.