This is the key paragraph: The student loan market is now valued at $867 billion, less than 1/25th the size of the housing market at its bubble peak. Furthermo

This is the key paragraph: The student loan market is now valued at $867 billion, less than 1/25th the size of the housing market at its bubble peak. Furthermore, all of it will not default and the defaults that do occur will be spread over many years. Also, just wanted to say that Dean Baker is great, that's all.