Are student loans a crisis for college students and the economy?

Total student loan debt rose from $480 billion in Q1 2006 to $1.4 trillion in Q3 2016. Are student loans a crisis for college students and the economy? What changes, if any, need to be made to the educational system, it’s rising costs and methods of financing? Should students be able to declare bankruptcy and erase their debt load?Word Count: 500 min to 1000 word max. Send me a handshake.