The article highlights that Californians are adept at managing their debts, particularly student loans, with an 18% delinquency rate. This rate is significantly lower than the national average of 23%. A report from the Federal Reserve Bank of New York revealed that, even with increased financial stress post-pandemic, only 1.9% of consumer debts in California are over 90 days overdue. This reflects an ongoing trend of effective bill payment amidst economic challenges, underscoring California residents' fiscal responsibility in comparison to other states.
Despite rising financial pressures, California residents demonstrate resilience in managing debt, reporting lower delinquency rates, especially regarding student loans compared to national averages.
California's student loan delinquency rate stands at 18%, which, while alarming, is better than the national average of 23%, showcasing effective payment habits.
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