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re: #3 Bob Levin
The houseing and auto loan markets are heavily reliant on the student loan market. If someone comes out of school with $100,000 in debt and lands a 40,000$/year job, they won’t be buying a home or a new car for quite some time.
Moreover, student loan debt in the US is pretty hard to shed, declaring bankruptcy won’t get rid of it for example. This means when a large portion of society has student loan debt, they’re generally going to engage in less economic activity, which has all sorts of ripple effects.
It’s hard to found your own company is you have to pay $1000/month in loans.