“The number and value of overdue student loans has reached an all-time high in the US as nearly a third of 20- to 24-year-olds are currently unemployed, according to a report by the Department of Education. With continued concern regarding rising college costs, the amount of outstanding student loans has now reached $1 trillion, making that the largest category of consumer debt in the US aside from home mortgages. According to the new report, eleven per cent of school loans – one hundred and ten billion dollars’ worth – are now seriously delinquent, meaning at least 90 days past due. Bloomberg reports the employment rate for college graduates in the US is 87 per cent.”
http://rt.com/usa/record-high-us-student-debt-775/
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