Well, howdy there, Internet people, it's Bell again.

So today, we're going to talk about student loan delinquencies

hitting a 20-year high and the underlying issues.

That's a headline you'll see, and you'll hear all about the top line number.

But the thing I feel like most people will find surprising isn about the top line number. But the thing I feel like most people will find

surprising isn't the top line number. First, what's the top line? The percent of student loan debt

entering serious delinquency, that's 90 days or more, is 12.9%. That's the highest it's been in 21 years. That could be a warning sign for

wider debt issues coming up. If you have a car note, mortgage, credit card and student loan debt,

and you can't afford to pay them all, which one do you not pay? They aren't going to foreclose on

or repo your education. The bleed over into other areas of debt hasn't started yet, but it's

on people's minds. A policy advisor at the New York Fed said in a statement, quote,

This quarter's flow of household debt into serious delinquency was mixed across debt types,

with credit card and auto loans holding steady,

student loans continuing to rise, and mortgages edging up slightly.

There's a sign of increased financial distress, which I feel like y'all already know.

But here's something that's interesting.

When people say student loan debt, most people understandably think of students, college-aged people.

But the underlying information reveals that it isn't 20 to 30-year-olds not paying their student loan debt.

18-29-year-olds only had a rate of 8% transitioning into delinquency.

That's the lowest.

30-39? Well, that was at 11% still within norms. 40 to 49. Now we're up to 14%. Those over 50? About 18%. To me, that's interesting for three reasons. First, it reminds everybody

that student loan debt isn't actually only held by college-aged people, which definitely

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