Student loans are still growing faster than any form of debt in the US. Take a look at the chart below which shows consumer debt changes from 2003 to 2013.

Note the blue line which keeps going up.

Education by the Numbers reports.

Student loans still growing faster than any other debt and now most likely to be 90-days-plus delinquent

Back in 2010, student loan debt outstanding in the United States surpassed outstanding credit card debt. Student loan debt hit the $1 trillion mark in 2013. It’s still the fastest growing consumer debt and a lot of it isn’t getting paid back. That’s according to the most recent consumer debt report by the Federal Reserve Bank of New York released on February 18, 2014.

The Federal Reserve Bank of New York tracks student loans, both those issued by the federal government and private banks, and releases a quarterly report. In the 2013 year-end report (Q4 2013), outstanding student loan balances reported on credit reports increased to $1.08 trillion, a $114 billion increase for 2013.


 
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