[UPDATE M 3 Dec, 7:20 am, CST: Josh Miller in comments rightfully chides me for uncritically accepting the overly dramatic wording of the zerohedge article. So I've modified the title of the post.]
That's the take-away from this story at zerohedge.com. Their headline is even more dramatic than my post's title:
The Scariest Chart Of The Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic
As I read the charts in the linked posts, the percentage of student loans now +90 days delinquent shot up from 9% to 11% last quarter. And the dollar value of newly delinquent loans went from $21 billion to $33 billion last quarter. Out of a total student loan debt (non-dischargeable in bankruptcy, let's not forget) of close to $1 trillion this post makes the claim that putting it all together, over $120 billion of student loan debt is now in default. I can't pretend to know what it all means, but it can't be good.
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