watch
Those who have been following our year-long series exposing the student debt bubble are by now well aware that this latest $1 trillion+ reincarnation of subprime will have a very unhappy ending. Which is why today's release of the quarterly Fed report on household debt and credit will hold few surprises for them. There is however, one data point which is notable: as of December 31, 2012, the soaring delinquency rate on student loans (first reported here, and subsequently confirmed by the Fed itself), has surpassed that of credit card debt.
http://www.zerohedge.com/news/2013-02-28/delinquencies-student-loans-surpass-those-credit-card-debt
You should know that the education is a privilege, not a right. If you keep defaulting, we, the 1%, will make sure that only the 1% will get the education.
From the 1%.