Here’s why student loan delinquencies are so high

Joseph Lawler:

Student loan delinquencies are growing, even as the subprime mortgage disaster and financial crisis recede into the past.

If there’s a student loan crisis, it’s here.

The share of U.S. student debt delinquent for at least 90 days rose slightly to 11.45 percent in the second quarter, according to the latest report on household debt and credit from the Federal Reserve Bank of New York.

That percentage has nearly doubled from a decade earlier, when it was 6.71 percent.