A lot of students graduate with lots student loans and it is not that easy for everyone to find a job and it might take ever to pay back these student loans. I think that we are in educational bubble. I got surprised to know amount of student debt do some people have in their 50s and 60s after reading this article: http://www.cnbc.com//id/48148304

These are some interesting notes from this article:

Government used $431 billion in TARP and outstanding federal student loan is $583 billion.

Delinquency rates on student loans are 14%.

% of outstanding student loans held by borrowers 50 years and old is 15.5%!

It is amazing that personal finance is mainly about managing debts for a lot of us these days.

One can start talking student loans in teen ages and amount can be up to a quarter million! This might take years to pay it back.

Same is true for credit cards. Once can start getting credit cards debts and we can keep doing this forever!

Some of us want to be a home owners as soon as we can and want to buy the biggest house we possible can which will take years for a lot of us to pay off.

A few of us won’t mind taking debt for cars and other consumer products.

There are so many ways to keep taking debts. Things might be fine as far as we are working and able to make payments on our debts. But there is going to time when we would stop working. What are we planning to do after that?