January Consumer Credit: +$17.78B, well above expected +$11B. Non-revolving debt (student loans,...

January Consumer Credit: +$17.78B, well above expected +$11B. Non-revolving debt (student loans, car and personal loans) led, up $20.7B, while revolving debt (credit cards) fell $2.9B.
Comments (7)
  • Stoploss
    , contributor
    Comments (1713) | Send Message
    Stupid is, as stupid does.
    7 Mar 2012, 03:15 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    If one were to look at these student loans....I bet many of them are false....its just another social program that will never be paid back...at some point Obama will give them the pass....for the student vote of course.....And as we see with the 31 year old student Sandra Fluke....everything should be paid for ...everything...
    7 Mar 2012, 03:23 PM Reply Like
  • levin70
    , contributor
    Comments (1077) | Send Message
    Its all student loan debt. Cars and other durables was up less than 1% and revolving as noted was down.


    The whole student loan debt is not going to end well
    7 Mar 2012, 03:33 PM Reply Like
  • The_Hammer
    , contributor
    Comments (5141) | Send Message
    A drunk does not turn down booze.


    why would a homedebtor turn down more credit they cannot afford? or students who will eventually be looking for some bailout like the rest of the bloodsucking public.
    Sub-prime Car loans and FHA 3% down loans being giving out like candy. Hey lets run up some more defaulting loans. FHA will need more funding shortly.


    Dollar Collapse (Devaluation) is coming it just takes time for the world to prepare for the day of dollar rejection.
    7 Mar 2012, 03:47 PM Reply Like
  • Financial Insights
    , contributor
    Comments (928) | Send Message
    No rhyme or reason to why the government is guaranteeing all these loans for students who A.) Are getting degrees at crappy online universities that overcharge by a mile B.) Degrees which will not enable them to get a job (unless they go on to grad school and then go get their PHD which leads to more debt) i.e. Philosophy, Psychology, Liberal Studies, Theatre, Communications etc. C.) Are in school for years and are no closer to getting a degree, but keep going in order to delay paying back loans D.) Get awful grades yet still qualify for subsidized federal loans Year after year.


    Students will continue to take these loans, due to the fact they cannot think farther ahead than the next week.
    7 Mar 2012, 04:37 PM Reply Like
  • SA reader
    , contributor
    Comments (176) | Send Message
    Obama will find some way to forgive the idiots who spent $100k to get an anthropology or literature degree. I'm sure hard working taxpayers will pay for it while the ex-students protest in the streets instead of looking for a job.


    The best solution is making colleges pay off the debt of students who can't get jobs. That would help universities to stop ripping naive students off. Job placement or 100% tuition refund.
    7 Mar 2012, 11:21 PM Reply Like
  • mweaver
    , contributor
    Comments (199) | Send Message
    the "education industry" receiving
    federal subsidies.
    8 Mar 2012, 05:35 AM Reply Like
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