A costly lesson in student debt for young Americans -- 34 percent of all student debt saddled to those under the age of 30

The student debt bubble is a recent manifestation of the financial sector dominating the American economy. For example, in 1997 there was less than $100 billion in student debt outstanding. Today it is over $870 billion according to the conservative Fed estimates and inching closer to $1 trillion by other estimates. Either way, this debt market has increased by a factor of 10 all the while wages and college graduate wages have gone stagnant over the same time. Over 34 percent of all this debt is in the hands of those 30 and younger