Good News If You Have Student Debt

Student loans follow a lot of people around like shadows for the rest of their lives. Finally there’s some good news though for the millions of people who have it.

According to the New York Federal Reserve’s “Quarterly Report on Household Debt and Credit,” the total student-debt load in America has decreased between the first and second quarters of 2016, to $1.259 trillion from $1.261 trillion. This was a $2 billion decrease.

The decrease in aggregate student-loan debt is the first since the start of 2003, which is the farthest back the New York Fed’s data goes.

Despite student debt being still near historic levels, a decrease in debt loads is a good sign for the millions of Americans holding them.