Are student loans the next debt crisis?

How much money goes to paying off student loan debt that could be used to buy a house, and how many seek high paying jobs so they can pay off the loan? And then of course they become debt slaves living in fear of losing their jobs and not be able to make payments on student loans that are not dischargeable by bankruptcy.

What a racket. Siphoning money from students to Wall Street, all backed by the government and then securitized and sold.