That is just a little over 4 years, and we can expect a continuation of deleveraging for many years to come - we have a long way to
go in order to get back to the
levels of
household debt relative to GDP or Personal Disposable Income (PDI).
Nearly 7 million Americans have
gone at least a year without making a payment on their federal student loans, a high
level of default that suggests a widening swath of
households are unable or unwilling to pay back their school
debt.