As widely reported by the financial media, the aggregate amount of student loan debt has recently surpassed $1 trillion and continues to grow rapidly. Fitch Ratings has determined that nearly 1/3 of outstanding federal student loans are currently in arrears, up from 7% in 2008. According to Fitch: "Several macroeconomic factors are putting pressure on student loan borrowers. The main ones are unemployment and underemployment."
Forbes magazine recently postulated that the reintroduction of pre-paid college tuition programs could be a possible solution to the upcoming student debt crisis. But one must ask themselves two questions: 1) Who in this ongoing depression, save the wealthy, can afford to partition more of their dwindling, debased income? 2) What can be done about the $1 trillion debt that's already outstanding?