New York Fed Quarterly Report Shows Student Loan Debt Continues to Grow [View all]
NEW YORK – In its latest Quarterly Report on Household Debt and Credit, the Federal Reserve Bank of New York today announced that student loan debt reported on consumer credit reports reached $904 billion in the first quarter of 2012, a $30 billion increase from the previous quarter. In addition, consumer deleveraging continued to advance as overall indebtedness declined to $11.44 trillion, about $100 billion (0.9 percent) less than in the fourth quarter of 2011. Since the peak in household debt in the third quarter of 2008, student loan debt has increased by $293 billion, while other forms of debt fell a combined $1.53 trillion.
http://www.newyorkfed.org/newsevents/news/research/2012/an120531.html
We have to do something about this
Solution give these kids JOBS with GOOD WAGES
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