Monday, June 04, 2012

Student Loan Debt Still Rising

After mortgages, student loans are the single largest component of household debt, reports the Federal Reserve Bank of New York. Every other type of debt has been declining since the 2008 peak. But student loan debt just keeps growing. As of March 31, 2012, Americans owed a collective $904 billion in education loans, $64 billion more than a year earlier. To put the number in perspective, that's $2,888 for every man, woman, and child in the United States.

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