Very good description, and I'd even say there are some problems missing from it. Actually, increased salary demands due to student loan balances lead to: - ex

Very good description, and I'd even say there are some problems missing from it. Actually, increased salary demands due to student loan balances lead to: - exacerbated income disparity, since only the elite are hired, which makes the job market extra-tough on all but the most capable new graduates, as well as - higher professor salaries, since professors and potential professors in the field have attractive non-academic options, but also - more willingness of students to take on more easy loans, since "everyone knows" that lawyers, etc. make so much money that it's okay to take on a lot of debt.