Are Defaults On Student Loans The Next Financial Bubble to Burst?

There are several posts in this blog about how banks are "mugging" consumers with higher credit card interest rates, lower card limits, increased minimums, and other fees. There is a debate about whether these changes, the high cost of college, and the recession will push many consumers to default on their student loans, or if the problem is poor financial planning and an attempt to avoid personal responsibility. At about the 13-minute mark are hints that the problem may be caused in part by predatory lending and collections policies: