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Is the Near-Trillion-Dollar Student Loan Bubble About to Pop?

Student loans have been going up since the recession began--and now defaults are up too. Something has to be done, but what?

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Of course the resolution is unlikely to pass Speaker John Boehner's Congress, and even if it does, it's just a resolution. But the instant popularity of Applebaum's petition shows something: Americans realize that student debt at the current levels is completely untenable, and something must be done soon.

Republicans love to talk about the debt we're leaving our children with. But saddling them with record levels of student debt and no jobs with which to earn money to pay it back hurts young people much, much more than government budget deficits. 

Sarah Jaffe is an associate editor at AlterNet, a rabblerouser and frequent Twitterer. You can follow her at @seasonothebitch.