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...student loans surpassed credit cards last quarter to show the highest delinquency rate among U.S. consumer debt. The shift was chronicled in a report published two days ago by the Federal Reserve Bank of New York.
“Student-loan debt crowds out other consumption,” Wieting wrote yesterday in a report. The New York-based economist cited a Rutgers University study, done in May, that showed 40 percent of college graduates from 2006 through 2011 postponed a major purchase because of their debt burdens.
Student Loans Go Unpaid, Burden U.S. Economy: Chart of the Day - Bloomberg
“Student-loan debt crowds out other consumption,” Wieting wrote yesterday in a report. The New York-based economist cited a Rutgers University study, done in May, that showed 40 percent of college graduates from 2006 through 2011 postponed a major purchase because of their debt burdens.
Student Loans Go Unpaid, Burden U.S. Economy: Chart of the Day - Bloomberg