"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
U.S. Student Debt in ‘Serious Delinquency’ Tops $166 Billion
Source Date:
Saturday, February 16, 2019
Student-loan delinquencies surged last year, hitting consecutive records of $166.3 billion in the third quarter and $166.4 billion in the fourth.
Bloomberg calculated the dollar amounts from the Federal Reserve Bank of New York’s quarterly household-debt report, which includes only the total owed and the percentage delinquent at least 90 days or in default.
That percentage has remained around 11 percent since mid-2012, but the total increased to a record $1.46 trillion by December 2018, and unpaid student debt also rose to the highest ever.