5 million Americans have more than $50,000 in student loan debt, and most pay none of it back in the first four years

What makes this even worse is that, in 2010, Obama shoved the banks aside and forbid anyone but the Department of Education from making government-guaranteed student loans. Worse in the sense that, while banks aren't as much on the hook from the inevitable defaults, the taxpayers are. Total student loan debt now totals $1.4 trillion, and the borrowers carry that debt for a very long time - incurring mounting interest charges in the process. They take years before they start paying off any principal, so their balance gets even higher. That's especially true if you continue incurring debt through grad school, which might keep you in school for another three to seven years after you get your bachelor's degree. You're still spending, still borrowing, not doing much earning. And once you finally do start earning, you're either turning around and turning it over to your lender or, in the case of far too many, you're paying off nothing at all: