Keep in mind: About half of companies check a potential employee's credit before making a job offer. (Damn.
This is a major issue on so many levels that it is difficult to imagine.
Credit scores seem to act as a new form of debtors prisons on many levels. These debt problems and credit score issues are not only for students but for many others as well. Those who become ill and fall behind or lose a job or are too busy working to mind their own business properly have credit issue even without big loans. There are many I've known that won't take personal time to deal with personal stuff or left it to a spouse or even a professional to handle that turned out that wasn't too great at getting credit payments handled. Many young people may get the message that college is only for the rich or scholarship brilliant. They may not even attempt college and risk endangering their future credit score that appears to be used to determine a persons value, ability and worthiness.
The college loan debt crisis is major because graduating students find themselves getting out of school a slave to their debt. For many this will last their whole working life. Often they need to move home or move in with friends to share cost even as married couples. Many are unable to find additional credit or by homes because as a couple they already owe enough to have a mortgage. The fact is many young college educated adults decide not to have children because of their debt load and other couples put off having families due to debt till it is no longer a natural option. Adoption and fertility treatments may not be affordable option to them. This has far reaching outcomes to all society.