A ticking time bomb of American debt. Over 0 billion are owed by college students in the US with thousand more added on every second. The most traditional financial baggage for Americans was credit card debt. For the first time, debt belonging to college students has over taken that number one spot. “Students graduating in 2008, 2009 and 2010 are facing the worst job markets in a generation at least. And so you have people with more debt that we have ever seen before, who are having a harder time finding any job, let alone a job that pays them enough to somehow pay off all this debt.”