Every year, student debt continues to rise. Nearly two-thirds of undergraduates are in debt. By graduation, their student loan debt averages around $26,600. One percent of graduates leave college with $100,000 or more of student loan debt. In 2013, the federal debt had grown to $16.7 trillion. Six percent of that debt comes directly from student loans making student loans only second to mortgages in consumer debt. The Consumer Financial Protection Bureau reported that as of May 2013, federal student loan debt had reached $1 trillion bringing the total number for outstanding student loan debt to $1.2 trillion. However, this amount does not include what students take from savings accounts, borrow from parents, or charge to their credit cards in order to pay for their education. In actuality, the burden of student debt is much greater than these numbers indicate. The Federal Reserve Bank of New York's February 2017 "Quarterly Report on Household Debt and Credit" reported that 11.2% of aggregate student loan debt was 90 or more days delinquent in the final quarter of 2016.