The United States government is at it again – creating a massive bubble that puts financial markets at risk. This time it is student loan debt, which has been growing to a size that will dwarf the 2008 financial crisis.
- Student debt is on track to triple to almost $3.3 trillion in the next decade.
- The official default rate of 11.3% doubles when including loans in deference or forbearance.
- A total student debt shortfall of $750 billion would almost double that of the subprime mortgage crisis.