USA Today parses through New York Federal Reserve’s latest report (pdf) on Household Debt and Credit and finds that for the first time, this year the amount of student loans will surpass the $100 billion mark and the outstanding balance will exceed $1 trillion.
That means the amount of credit card debt and student debt is about equal, reports the New York Fed. USA Today reports that’s a dangerous prospect, because unlike credit card debt, student loan debt survives bankruptcy:
via Americans’ Student Loan Balance Now Exceeds $1 Trillion : The Two-Way : NPR.