Pending Student Loan Debt Crisis Sets Off Alarms At Citibank

Citibank Sounds The Klaxon On Pending Student Loan Debt Crisis

The pending student loan debt crisis is unnerving and it has all the same traits as the mortgage crisis. from a decade ago.

Now a major player in the global financial markets is sounding alarms.

Citi Global Perspectives & Solutions recently raises the specter to that of the subprime mortgage crisis.

According to the Citi report:

Default and 90-day delinquency rates are about 11%...to some this might appear eerily reminiscent of the mortgage crisis where delinquency rates had peaked at 11.5% in 2010.

Outstanding student debt has almost doubled since 2009. The average undergraduate student borrower graduates with more than $30,000 in debt.

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