as of the end of September, a jump from 8.9% at the end of June. The WSJ article states that student loan debt outstanding exceeds auto and credit card loans, nearing $1 trillion in total.
Loans to students in for-profit schools are particularly troubled. 23% have defaulted among those whose loans "came due in the year ended Sep 30, 2009."
Mitchell, Josh (2012, Nov 28). Federal Student Lending Swells. The Wall Street Journal, pp. A1, A6.
Feb 07, 2011
It was announced last summer that total student loan debt, at $830 billion, now exceeds total US credit card debt, which is itself bloated to the bubble level of $827 billion. And student loan debt is growing at the rate of $90 ...
Aug 08, 2012
Reilly claims that "in the short term" student loans "don't juice the economy in the same way as increases in credit card debt." Excluding student loan debt, outstanding credit is down more than 15% from the 2008 peak.
Nov 18, 2010
People in modern America carry student loans, credit card debt, and mortgages. All of these are hard to pay back, often bringing with them impenetrable contracts and illegal fees. Credit card debt is difficult to discharge in ...
Apr 24, 2012
The $1 trillion dollars outstanding in student loan debt is an unfair burden that past generations of college students were not shackled with: Imagine being a debt-burdened college student facing such a bleak job market.
Dec 04, 2011
Credit cards, auto-loans, student-loans, and mortgages were made widely available to even the lowest income citizens. The expansion of credit, facilitated in part by extraordinarily low interest rates set by the Federal Reserve ...
Sep 02, 2010
Now these for-profits are engaged in an all out assault against this proposed policy to limit loan guarantees so that students don't get stuck with excessive debt. For profit education is a scam!!!!!!!!!!!!!!!!!!!!!!!! Posted by Majia's ...