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Student-Loan Delinquencies Surpass Credit Cards

lehigh69 Wrote: Nov 29, 2012 12:29 PM
Feds' November 2012 report which includes many of the above quotes: http://www.newyorkfed.org/research/national_economy/householdcredit/DistrictReport_Q32012.pdf

As costs of college soars (with thanks to absurd union salaries and benefits, as well as absurd administrator salaries and benefits), those attending college have increasing trouble paying back loans.

The fully expected consequence is Student-Loan Delinquencies Now Surpass Credit Cards.

The proportion of U.S. student loan balances that are in delinquency — that is, unpaid for 90 days or more — surpassed that of credit-card balances in the third quarter for the first time, according...