Since the peak in household debt in the third quarter of 2008, student loan debt has increased by $303 billion while other forms of debt fell a combined $1.6 trillion.

In the second quarter ended June 30, student loan debt rose 1.1% to $914 billion compared with $904 billion three months earlier, according to the Federal Reserve Bank of New York on Monday.

Ninety-day delinquency rates for student loans increased to 8.9% in the second quarter from 8.69% in the first quarter. The loan totals are based on figures from a random sample provided by credit bureau Equifax Inc.

The loans were taken out by students and their parents, and the majority are backed by the U.S. government.

In March, the Consumer Financial Protection Bureau estimated that student debt reached the $1 trillion mark. An estimated 15% of the debt is private, issued by banks and other lenders.

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