The latest "Bubble" appearing in mainstream media business sections the growing student loan bubble that will explode in the near future if someone can't let the air out first. S&P says student loan debt could be next financial bubble "Student-loan debt has ballooned and may turn into a bubble," S&P said. "There are more defaults and downgrades for some student loan asset-backed securities." Federal and private student-loan debt is approaching $1 trillion and surpassed credit-card debt for the first time in 2010, according to Mark Kantrowitz, publisher of FinAid.org, a college grant and loan website. Under U.S. law, student-loan debt -- unlike credit-card borrowings -- can rarely be discharged in bankruptcy court." S&P says student loan debt could be next financial bubble - latimes.com Student Loans Could Be America's Next 'Debt Bomb,' Report Finds "Growing numbers of Americans are finding themselves bankrupt, with their college diplomas partially to blame. Slightly more than 80 percent of bankruptcy attorneys say the number of their potential clients with student loan debt have increased "significantly" or "somewhat" in the past three to four years, according to a survey by the National Association of Consumer Bankruptcy Attorneys. And there's little hope those debtors will get out of their obligations; 95 percent of bankruptcy attorneys surveyed said that very few student loan debtors will be discharged from their loan as a result of undue hardship." Student Loans Could Be America's Next 'Debt Bomb,' Report Finds. The problem with student loans is that no one has to qualify to get one. Historically, that wasn't an issue back in the 60's, 70's and 80's because a college education just wasn't that expensive relative to average income and far fewer people wanted to pursue a higher education. Not so today with $40k+ annual expenditures for a college education. Now we have older, unemployed citizens attempting to retrain themselves by going back to college. They are GUARANTEED student loans....yup, our gov't guarantees them so universities give them to anyone. But....and it's a big BUT...even if you go bankrupt, you still have to pay 100% of it back.