America’s student debt crisis 'is worse than we thought'

The report predicts as much as 40% of students could be in default by 2030.There are $1.4 trillion in US student loans outstanding, making it the second biggest source of household debt after housing.The US financial crisis that resulted from a ruptured housing bubble is now ten years old, and investors fretting over a serially record-setting stock market are searching for pockets of risk in various corners of the financial system.