Interesting post on the College Scholarships blog:
“According to June 2010 statistics, Americans owe more money in student loans than they do on their credit cards. As of two months ago, student loan debt was at $829.785 billion, while credit card debt was at $826.5 billion… Another reason behind this depressing milestone could be because of changes to the federal bankruptcy law in 2005 which has made it “nearly impossible to discharge student loans in a bankruptcy,” according to Robert Baker, director of education at Housing and Credit Counseling Inc.”
Full post at http://www.collegescholarships.org/blog/2010/08/31/