Update on student loan debt

The Wall Street Journal (see here) has an update on the issue of growing student debt (see graph below, click to enlarge).

The authors state:

"According to a Wall Street Journal analysis of recently released Federal Reserve data, households with annual incomes of $94,535 to $205,335 saw the biggest jump in the percentage with student-loan debt from 2007 to 2010, the latest figures available. That group also saw a sharp climb in the amount of debt owed on average."

"The figures put this segment at the heart of a larger trend striking across income groups. More than three million households now owe at least $50,000 in student loans, up from about 794,000 in 2001 and fewer than 300,000 in 1989, after adjusting for inflation."