Add it to the other "bubbles" about to burst and it certainly doesn't help... The only benefit is that with student loans (as compared to other types of loans) hardship forbearances are awarded for just about any situation and so most people who cannot pay their loans just put them in deferral where they sit. Upside, temporary relief from pymts. Downside, interest continues to accrue ... The higher education system (funding situation) is a nightmare and will continue to get worse with rising tuition coupled with lack of employment opportunities.

[edit on 7-9-2010 by LadySkadi]

College is such a crock. Scam you out of tens of thousands of dollars just to get loaded, have pointless sexual encounters and coast by in nonsensical classes about nothing of any consequence.

Looking back I would have happily passed on the intoxication, sexual encounters and kept my thousands of dollars and gone to trade school so I could have made 50-70/hour doing something outside with my hands.

As it is now you get out of school and all you have are some blurry memories of what you assume were fun times and a desk job in a cube. But you have a nifty little degree tacked into the felt wall.

Everybody pisses and moans about big this and big that sucking up all kinds of money for no reason. Why no outrage when big uni takes 30K from some kid and gives nothing in return but a piece of paper and some half-assed indoctrination?

Does anyone even take student debt seriously?

Do colleges even teach a worthy education anymore?

Federal and state jobs normally require a college decree and people who graduated from the most elite schools are the ones running Washington. But with all that education, the government seems to act in ways that defy common sense and in total contradiction to an institution run by "smart" people.