I've actually been thinking about the implications of student debt for a while and it seems like a really terrible thing for a lot of reasons. I think it sucks people are forced into jobs they probably wouldn't otherwise do, just to pay off some debt.
The only thing I'll say about your response is that, I frequently hear about "the bubble getting ready to burst", but it never seems to happen. Similar to radical increases in housing prices, they seem to just keep rising, contrary to economists predictions about a crash. It's a totally anecdotal observation, but it's the reason I asked the question in the first place.