College Debt Crisis: At $1.32 trillion, it equals the amount of all U.S. currency in circulation

Crain's Chicago Business reports:

Years after the Great Recession, the U.S. economy has struggled to come roaring back. Student loan debt is at least partly to blame, diminishing consumer spending and access to home mortgages and other credit. After tripling in the last decade, the amount of student debt is staggering. At $1.32 trillion, it equals the amount of all U.S. currency in circulation—the 8.6 billion Benjamins out there don't even come close—and is projected to grow to $2 trillion by 2020.

The anatomy of the next credit bubble. You'll want to read the entire article to understand the seeds of the next recession. The free market Austrians were right about excessive credit creation.