Student Loan Amount Surpasses What Is Owed On Credit Cards

You betcha - it takes a bunch to get a college edukation here in the US. But if you want to learn how to kill not so much.  As with credit card debt those in the District of Whores made sure the debtors would not go free.

The amount of student loans taken out last year crossed the $100 billion mark for the first time and total loans outstanding will exceed $1 trillion for the first time this year. Americans now owe more on student loans than on credit cards, reports the Federal Reserve Bank of New York.

Taxpayers and other lenders have little risk of losing money on the loans, unlike mortgages made during the real estate bubble. Congress has given the lenders, the government included, broad collection powers, far greater than those of mortgage or credit card lenders. The debt can't be shed in bankruptcy.

Another example of an Empire in a steep decline. And the blind sheep bleat for more reality on the tube. The amount is a trillion the amount the bankers got not that long ago. Of course the ones that profited from that have made sure no little guy never will.