Maybe not in isolation. It has to be taken as part of a larger picture. There is tremendous downward pressure on wages and has been for a long time due mostly

Maybe not in isolation. It has to be taken as part of a larger picture. There is tremendous downward pressure on wages and has been for a long time due mostly to outsourcing, foreign competition, and automation. All those things are deflationary in general. Central banks have tried to fight this via traditional inflationary monetary policy but it's not working. Since the pressure on wages is so deep and structural, those policies are just inflating other things. Chief among these are housing and education because these are financed with debt. I think this is the wider picture. It's not so much a student loan crisis as a larger breakdown of the entire 20th century economic formula.