Monday, August 9, 2010

The bubble grows

Student-Loan Debt Surpasses Credit-Card Debt, Figures Show (The Chronicle of Higher Education)
Americans now owe more on student loans than on credit cards, The Wall Street Journal reported, citing figures from the Federal Reserve and Mark Kantrowitz, publisher of FinAid.org. The total owed in revolving credit, most of which is credit-card debt, is now $826.5-billion, according to June 2010 figures from the Fed, while Mr. Kantrowitz calculates the total owed in federal and private student loans as $3.2-billion higher—some $829.785 billion. The Journal notes, however, that the figures reflect a sharp drop over the past two years in revolving-credit debt, which reached a high of $975.7-billion in September 2008.

1 comment:

Anonymous said...

This is a huge f'ing bubble, like the hedge manager warned Congress earlier this year.

Roy's obituary in LA Times and Register: "we were lucky to have you while we did"

  This ran in the Sunday December 24, 2023 edition of the Los Angeles Times and the Orange County Register : July 14, 1955 - November 20, 2...