Student loan debt shows growing pressure as 2027 approaches, new Credit Karma data says

Credit Karma’s latest analysis of TransUnion data shows 24.2 million members had open student loan debt by the end of the third quarter of 2026.

Borrowers in forbearance — about 10.1 million Credit Karma members with student loans — appear especially vulnerable, as many face the return of payments heading into 2027.

Among those in deferment, the median credit score is 43 points lower than that of the fully current and actively repaying group.

That difference reflects broader consumer debt patterns. Most bills that end up in collections are smaller-dollar credit card, phone and utility balances.

Gen Z and millennials together account for nearly three-quarters of borrowers with student loans, but Gen Z is struggling with delinquency at a slightly higher rate than its older peers.

The Gen Z student loan delinquency rate is 10.2% of members, compared with 9.5% for millennials and 8.4% for Gen X.

Gen Z also has the highest share of members with loans in forbearance, as expected at this stage of life.

The Credit Karma student loan population snapshot

Credit Karma has 24.2 million members with open student loans, totaling more than $1 trillion in debt.