According to The NY Fed's published report, student loan debt in the U.S. has now surpassed $1 trillion, for the first time ever exceeding the total amount of credit card debt held by Americans.
Due to the rising cost of education across the board, students are being forced to borrow almost twice as much as they were just 10 years ago. That’s what led to a spike in student loan amounts and push 2010′s total loans to more than $100 billion
What’s worse, Americans are increasingly defaulting on their student loans, and this may just be the next major market bubble to burst.
via rawstory.com
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