Student-Loan Debt Surpasses Credit-Card Debt, Figures Show

Americans now owe more on student loans than on credit cards, The Wall Street Journal reported, citing figures from the Federal Reserve and Mark Kantrowitz, publisher of FinAid.org. The total owed in revolving credit, most of which is credit-card debt, is now $826.5-billion, according to June 2010 figures from the Fed, while Mr. Kantrowitz calculates the total owed in federal and private student loans as $3.2-billion higher—some $829.785 billion. The Journal notes, however, that the figures reflect a sharp drop over the past two years in revolving-credit debt, which reached a high of $975.7-billion in September 2008.