Student loans to be the next subprime mortgages?

With the funding for education shriveling up while costs skyrocket, borrowing is a necessity to pursue a college education. The student loan debt bubble is at $1.2 trillion and growing. Just like before, "when Wall Street speculators wanted a market for subprime mortgages, they created high-risk derivative securities that bundled the mortgages to sell as investments. The speculators have done the same for student loans."

Most of the loans are subsidized by the government and are now being packaged as SLABS, student loan asset-backed securities. Even more troubling "The income stream is nearly guaranteed to pay off because the loans are next to impossible to discharge in bankruptcy.."

As was noted in a recent post, Dept of Ed. hounding borrowers for loans the admit are illegitimate, even bogus debts have no means of being discharged. So go get an education, ranked as a high school equivalent compared to other developed countries, and start off with a nice heavy set of debt slavery chains weigh you down in a cubi-kill or some other soul-draining employment.