The inevitable collapse of the student loan "market" and with it the take-down of many higher educational institutions will be one of the happiest and much needed events to look forward to in the coming months/years. Whether the student loan bubble bursts on its own or implodes due to a general economic collapse, does not matter as long as higher education is dealt a death blow and can no longer be a conduit of socialist and egalitarian nonsense for the inculcation of young minds.
The perilous condition of the student loan sector can be seen by looking at a few ominous pieces of data:
The US has around $1.3 trillion in non-dischargeable loans to students
Over 120 billion in student loans are already in default
27% of students are a month behind on their payments*
As economic conditions deteriorate and there are even less meaningful jobs for college graduates than there are now, these numbers will only get worse.