The nonpartisan California Policy Lab at the University of California, Berkeley, found that delinquencies surged during the first half of 2025, with the highest rates among older borrowers. Baby boomers and Gen Xers face a 12% delinquency rate, compared to Gen Z's 9.4%, the study said.
Older borrowers also typically owe more each month, with boomers averaging $101 in payments - triple that of millennials and five times the typical Gen Z payment, according to the report. The CPL suggested this may include loans taken for both personal and children's education.
Delinquency rates are highest in the state's rural, lower-income areas, such as the Central Valley, where 16% of borrowers are behind, compared to about 10% in urban regions like the Bay Area and Los Angeles. Researchers said the trend reflects disparities in economic opportunity between inland and coastal regions of the state.
Amount of student loan payments drops
Researchers also pointed to a potential silver lining in the analysis, saying new student loan originations are down. California's newest college borrowers took out an average of $13,200 for the year, a 23% decrease from last year, possibly reflecting a shift toward more affordable schools.
The CPL said its findings are based on credit bureau data from the California Credit Dashboard, an interactive platform that tracks the state's financial health across regions and generations.
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