Household debt reaches record high, topping pre-recession peak

American households have returned to peak debt since 2008, according to new data. Americans currently owe $12.73 trillion of household debt, including mortgages, loans, credit cards, and student loans. Debt previously peaked at $12.68 trillion in the early stage of the Great Recession. Student debt, which has more than tripled in less than 15 years, heavily contributed to the total balance owed by U.S. households.