Overview

• The average U.S. FICO score dropped to 715 in April 2025, down one point from January and two points year-over-year, according to FICO.
• The rise in 90+ day delinquencies, now at 8.3%, surpasses pre-pandemic levels and is largely driven by the resumption of student loan delinquency reporting for the first time since 2020.
• Federal student loan payments resumed in late 2023, but delinquencies only began appearing on credit reports in February 2025 due to a one-year on-ramp period and a 90-day reporting delay.
• Approximately 2.7 million borrowers had severe delinquencies reported in February 2025, with over 5 million more potentially added between March and April.
• Federal Reserve Bank of New York researchers project over nine million borrowers will face significant credit score declines in the first quarter of 2025, affecting access to credit and loan terms.