Student loans are showing signs of growing too fast, perhaps the only market flashing a warning even as the economic recovery grows older, Citigroup Chief Financial Officer John Gerspach said.

"The only place I think right now where you see evidence of anything that would suggest perhaps overheating, oddly enough, is with student lending," Gerspach said Thursday on the company's fixed-income conference call with analysts. "And that is a market that is being driven by the government, not by banks or private interests at all."

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