The student debt crisis is getting worse: 13% of student loans transitioned into delinquency in Q2 2025, the highest share on record. Transitions into serious delinquency spiked to 13%, the highest since data began in 2003. Delinquencies have skyrocketed since Q4 2024 as the student loan relief period expired and delinquencies started appearing on credit reports. Individuals aged 50 and over saw serious delinquencies surge to a massive 18%. Furthermore, ~14% of borrowers aged 40–49 and ~8% of those aged 18–29 have transitioned into serious delinquency, the highest share in 13 years. For borrowers aged 30–39, transitions into serious delinquency jumped to 11%, an all-time high. The student loan crisis is real.(The Kobeissi Letter)