[beefalo]

I've had similar conclusions when considdering this as well. These loans are not wiped out by bankruptcy so they will be a permanent drain to personal wealth indefinitely. I think we will see lasting effects as more and more young people are unable to invest, save for retirement, and buy real estate but there won't be a sudden shock to the economy like the mortgage bubble.

[closetCS]

I think we are seeing this drain already occuring actually. The popular news sources are all reporting that millenials are struggling to buy homes and build savings, though this may be due to low wages rather than debt servicing costs