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Total student loan debt outstanding exceeded total credit card debt outstanding for the first time in June 2010. The seasonally adjusted figure for revolving credit in the Federal Reserve’s G.19 report (current report, historical data) was $826.5 billion in June 2010. (Credit card debt represents as much as 98% of revolving credit.)

It’s a big problem and a growing one. Graduates are not making enough when they leave college to make the payments on their student loans, yet it is nearly impossible to discharge such loans, even through bankruptcy. College students are clearly borrowing to much and you may be tempted to say let them suffer the consequences.
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