We also suspect that students, helpless "victims" of predatory lenders looking to give them $200,000 to pursue their dreams of becoming anthropologists while consuming copious amount of free beer at frat parties, will grow increasingly vocal in asking why the Nanny State would have given them so much money to pursue non-existent "careers". 

To put the student loan issue into perspective, there is roughly $1.3 trillion of student loans outstanding to 43mm Americans, an average balance of $30k per student.  Roughly 16% of borrowers are currently in long-term default with outstanding balances totaling $125 billion, or an average balance of $18k per student.

To our point above, the Wall Street Journal recently recounted the story of Jason Osborne and his wife, a Medford, Oregon couple, who took out $46,500 in student loans to take classes at Abdill Career College to become phlebotomists.