Here is a stunning chart from Saturday’s Wall Street Journal:
Here is the data:
368%: The jump since 2007 in the measure of consumer credit held by the government comprised primarily of student loans.
If a student loan bubble were to pop, the government, not private banks, would be the one standing around with gum in its hair.
That means taxpayers will have to pick up the tab once the bubble pops, which it will sooner or later.