Aggregate consumer debt declined in the first quarter, by $110 billion, resuming the longer-term downward trend. As of March 31, 2013, total consumer indebtedness was $11.23 trillion, 1.0 percent lower than its level in the fourth quarter of 2012. Overall consumer debt remains considerably below its peak of $12.68 trillion in the third quarter of 2008.

Non-housing debt balances were roughly flat, with increases in auto and student loans, by $11 billion and $20 billion respectively, offset by decreases in credit card balances ($19 billion) and other consumer loan balances ($10 billion).

Delinquency rates improved across the board, with 6.0% of total debt balances now 90+ days delinquent.

Source: FRBNY Consumer Credit Panel / Equifax; Data displayed in maps are as of December 31, 2012

There is considerable regional heterogeneity in student loan balances. Average balances per borrower are high in the northeast and the south.

Source: FRBNY Consumer Credit Panel / Equifax; Data displayed in maps are as of December 31, 2012

There are distinct regional patterns in student loan delinquency; West Virginia has the highest, at near 18, and the lowest delinquency rate is in South Dakota, at just over 6.5%.

Source: FRBNY Consumer Credit Panel / Equifax; Data displayed in maps are as of December 31, 2012

The population with active student loan debts as a share of the population with a credit record varies substantially. Hawaii is the lowest, with less than 12% of people with a credit report having student debt; in the District of Columbia, over 25% of people with a credit report have student debt.