College student loans could well be the next big financial crisis. Student loan debt now surpasses credit card debt nearing $1 TRILLION. 
Recent estimates find that the average graduate has between $23,000 and $24,000 in loan debt.
Just two weeks ago, the federal Department of Education released a draft report of the most recent student loan default rates, and announced the default rates are up nearly 2 percentage points from the previous year. For every graduate who started repaying a loan as of October 2008, 8.9 percent were not repaying their loans as of the end of 2010. That’s a dramatic jump from the 7 percent of graduates from 2007 who had stopped making loan payments.
Click here to read the full story.
