Delinquencies On Student Loans Surpass Those On Credit Card Debt

Those who have been following our year-long series exposing the student debt bubble are by now well aware that this latest $1 trillion+ reincarnation of subprime will have a very unhappy ending. Which is why today's release of the quarterly Fed report [5]on household debt and credit will hold few surprises for them. There is however, one data point which is notable: as of December 31, 2012, the soaring delinquency rate on student loans (first reported here [6], and subsequently confirmed by the Fed itself [7]), has surpassed that of credit card debt.

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