The subprime education crisis

The NY Federal Reserve’s Household Debt & Credit Report shows that student debt is rising fast and is now at an all-time high:

Household Debt and Credit Developments as of Q4 2013:

Quarterly Change*Annual Change**Total as of Q4 2013
Mortgage Debt(+) $152 billion(+) $16 billion$8.05 trillion
Student Loan Debt(+) $53 billion(+) $114 billion$1.08 trillion
Auto Loan Debt(+) $18 billion(+) $80 billion$863 billion
Credit Card Debt(+) $11 billion(+) $4 billion$683 billion
HELOC(-) $6 billion(-) $34 billion$529 billion
Total Debt(+) $241 billion(+) $180 billion$11.52 trillion

That’s a good thing, isn’t it? It shows that lots of young people are signing up for college instead of sitting around at home doing nothing or doing dead-end jobs.

But all is not well.......

Read on here.


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