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Delinquent U.S. student loans reached a record $166 billion in the fourth quarter.
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But since “delinquency rates for student loans are likely to understate effective delinquency rates” by about half, according to the Federal Reserve Bank of New York, the figure is probably a far cry from reality. Factoring for understatement would imply that about $333 billion in student debt has not been serviced in at least three months. Putting this into perspective, $441 billion had been disbursed under Treasury’s entire Troubled Asset Relief Program to provide financial stability during the recession.
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