AssetID: 56148503
Headline: UNCAPTIONED: Rising Debt and Living Costs Leave Millions of Americans Struggling to Pay Bills
Caption: Rising Debt and Living Costs Leave Millions of Americans Struggling to Pay Bills. An increasing number of Americans are struggling to keep up with credit card and student loan payments, as inflation, high grocery prices and elevated interest rates put pressure on households. A new analysis by the Urban Institute found that 23.5% of Americans with a credit history have debt in collections, with a median outstanding balance of $2,913. The research also found that predominantly non-white communities are around 50% more likely to have debt sent to collections than predominantly white areas. Credit card debt typically enters collections four to six months after missed payments, while medical bills can reach that stage within three to six months. Student loan borrowers are also facing difficulties, with 16% of federal and private student loan borrowers behind on payments in 2026 and a median defaulted balance of $5,078. Federal student loans generally enter default after 270 days without payment, while private loans can default after 180 days. Overall US household debt reached $18.8 trillion in the second quarter of 2026, while 10.6% of outstanding student loan debt was at least 90 days delinquent. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,United States,households,credit cards,student loans,struggle,bills,collections,cost of living,inflation,interest rates,difficulties,medical bills,University,white areas,non-white neighbourhoods,financial,trouble,Urban Institute
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