Student loan debt skyrockets 511 percent in last decade

Student loan debt has risen to $936 billion since 1999, data from the Federal Reserve Bank of New York shows.

All other household debt combined (mortgages, credit cards, automobile debt, etc.) has only risen about 150 percent in the same period.

While student loan debt is still only about 5 percent of overall household U.S. debt, data shows that percentage is growing rapidly.

Total student loan debt nationwide is approaching $1 trillion and has already surpassed total credit card debt across the United States.

Remarkably, student loan debt rose almost twice as rapidly as homeowner-related debt (mortgages and revolving home equity) did in the same period during the lead-up to the housing bubble in 2008, which was a significant catalyst in the 2009 recession.