Student-Loan Debt Surpasses Credit Cards

August 11th, 2010

Bubble, bubble, toil and trouble: Look at overall inflation vs. college education inflation.

Via: Wall Street Journal:

Consumers now owe more on their student loans than their credit cards.

Americans owe some $826.5 billion in revolving credit, according to June 2010 figures from the Federal Reserve. (Most of revolving credit is credit-card debt.) Student loans outstanding today — both federal and private — total some $829.785 billion, according to Mark Kantrowitz, publisher of FinAid.org and FastWeb.com.

…

But student loan debt, in many ways, is different than credit-card debt. These loans typically can’t be discharged in bankruptcy.

Posted in Collapse, Economy, Social Engineering | Top Of Page

One Response to “Student-Loan Debt Surpasses Credit Cards”

  1. oelsen says:
    August 11, 2010 at 12:23 pm

    Oh yeah, thats so much better than the socialist idea of education for everyone. Debt for everyone, thats capitalism!

    (It’s debitism!)

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