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Federal Student Loans Surpass $1 Trillion

Posted on 14-Nov-2013
Topics: Economic Warnings  

From Zero Hedge:

There is a reason why US consumer revolving (credit card) credit growth is getting lower and lower and lower and at last check posted a mere 0.2% annual increase.

That reason is that as the NY Fed disclosed moments ago, federal student loans officially crossed the $1 trillion level for the first time ever. Notably: the quarterly student loan balance has increased every quarter without fail for the past 10 years!

Sources:

[1] "Federal Student Loans Surpass $1 Trillion; Delinquency Rate Soars To All Time High", Zero Hedge, 14-Nov-2013

[2] "Household Debt and Credit Report", Federal Reserve Bank of New York, November 2013

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