Thoughtful Forbes article on the American student loan "crisis".
Student Debt Crisis: The Recession Started It; Colleges Sustain It; And Politicians Make It Worse
As expected, government gets involved and makes things worse.
Bernie's solution is to get others to pay your debt. Bob's your uncle! It frees students to pursue their colonial/feminist/queer studies without having to worry about whether there's a payoff at the end. In effect, it makes others your slave, because you are free to pursue whatever you want, while they are now required to work for you.
For some reason, this is wildly popular among students.