Outstanding student loan debt continues to increase and reached $1.31 trillion by the end of last year – more than what the nation owes for credit cards, according to new data from the Federal Reserve Bank of New York.

About 11% of that debt was either in default or 90 or more days delinquent in the fourth quarter of 2016.

Trump has a plan — a pretty good one, it turns out — for tackling student debt http://fw.to/KfXDg1d 

President Trump, while on the campaign trail last year, had some ideas on how to tackle this growing problem.

Read the Federal Reserve Bank of New York’s quarterly Household Debt and Credit report here .