zerohedge | We'll let readers calculate on their own what a surge in 90+ day
delinquency from 9% to 11% (or as footnote 2 explains: 22%) in one
quarter on $1 trillion in student debt means. For those confused, read
all about it in this September article: "The Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In Default" which predicted just this.
And so it's official: Pop goes the student loan bubble, as just confirmed by the Fed.
Luckily student debt is dischargeable in bankruptcy. Oh wait. It isn't.
