The student loan crisis that can't be gotten rid of
…the student debt bubble differs from all the others you’ve seen: It is legally impossible to pop. By law it can only grow very fast. The profits in this racket are downright hallucinogenic: A military veteran sharing his story with Occupy Student Debt has paid $18,000 on a $2,500 loan, and Sallie Mae claims he still owes $5,000; the husband of a social worker bankrupt and bedridden after a botched surgery tells Student Loan Justice of a $13,000 college loan balance from the 1980s that ballooned to $70,000. A grandmother subsisting on Social Security has her payments garnished to pay off a $20,000 loan balance resulting from a $3,500 loan she took out 10 years ago, before she underwent brain surgery.
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by Maureen Tkacik, Reuters.