Pop Quiz! What line item is the largest asset on Uncle Sam’s balance sheet?
- U.S. Official Reserve Assets
- Total Mortgages
- Taxes Receivable
- Student Loans
The rapid growth in student debt has been a frequent topic in the financial press. Earlier this year the Consumer Financial Protection Bureau (CFPB) posted an article with the attention-grabbing title: Too Big to Fail: Student debt hits a trillion .
Student loans may be a liability on the consumer balance sheet, but they constitute an asset for Uncle Sam. Just how big? Nearly 35% of the total federal assets, over four times the 8.6% percent for the total mortgages outstanding.
The nation's total student debt load is growing at a terrifying $2,853 per second.
Here, an infographic.
Could this be a catalyst to the next market turmoil? Seems woth watching.