U.S. household debt reached a record $18.59 trillion by September 2025, driven by credit card, student, and auto loans, with rising delinquencies among lower-income borrowers.

American household debt. reached a record $18.59 trillion by September 2025, driven by increases in student, credit card, and auto loans. Delinquency rates were also rising, particularly among households with lower incomes. Some economists point to manageable levels, pointing out that debt as a percentage of GDP is still below 2008 crisis highs and that debt service costs are low in relation to income, while others warn of economic risks due to uneven recovery and easy access to new financing.