A report from MSN Money and the Wall Street Journal has revealed student loan debt has managed to surpass that of credit cards, which is thought to be because more people are paying down their credit cards while incurring more student loan debt than before.
According to the report, FinAid.org found that student loan debt was estimated at $829.785 billion while FastWeb.com estimated credit card debt to be $826.5 billion. The amount of student loan debt has significantly increased since the recession, but was said to have already increased a lot as the cost of higher education rose dramatically over the years (MSN Money).