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My father was able to get through a Cornell loan debt in the early 90's (they still struggled but it seems like nothing compared to now.) and when he did the peace corps then he was able to get some deferment in his payments. We recently did converting what he paid back in the 80's to now and it was shocking. I luckily never needed to take a loan (I attended private unis) and I heard so many of my peers have fear in their loan situations. It has hampered a lot of people from taking usual steps in becoming middle class with buying a house/car and all that.
I did say in the NPC #s threads that yes many small unis (and chapters) will close over the comings years with people reevaluating the cost of a college degree and also realizing they can do 2 years at a CC and transfer to a state college for a low-ish rate. But that will bump up enrollment in some of those other small, liberal arts schools. At the end of the day, not everyone wants the big school environment, and many of these schools are working together to bring students in to complete their degrees without interruption and they will attempt to match whatever loan/scholarship program they had at their previous school. My own school built themselves as a transfer friendly place, and I was even able to complete my degree transferring in as a senior on time. But that's the current market.
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