The average U.S. credit score has fallen to 715, a decline attributed mainly to the reintroduction of federal student loan delinquency reporting. Following the end of a multi-year pause on payment requirements for federal student loans under the CARES Act, the percentage of consumers with more than 90 days of delinquency has rose above pre-pandemic levels, which raises concerns about overall borrower behavior and lender risk assessment. The data reflects the challenges borrowers face as they resume payments after significant deferments.
The average U.S. FICO score has slipped to 715 due to increased federal student loan delinquencies being reported, marking the first post-pandemic surge.
FICO states that consumer behaviors affect scores that lenders see, and the recent delinquency trend indicates a troubled return from loan payment pauses.
Collection
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