The impending crisis is not merely one of jobs. In the US at least, college loans cannot be discharged through bankruptcy, and are valid until fully paid. Many are insured by the government, and their interest rate reflects a policy of protection. Yet many are not, and even those government insured loans are only as safe as Congress would have them be. What this really means is that the Stafford Loan program, which is due to double its interest to over 20% as soon as July, will become an instrument of slavery, since a $140,000 college loan could NEVER be fully paid by an underemployed B.A. That's a fairly dramatic implication to a changing pattern of BOTH labor and education, and most certainly worth some serious consideration. I wonder about student loans in other economies, and mobility impediments created by retributive payment policies.... It makes Huxley look like a joyride.