Every year American students go deeper in debt to private student loan lenders (such as Sallie Mae). This debt is skyrocketing, and due to shady loan practices, exorbitant interest rates, and often out right lies, repayment on these loans is nearly impossible.
Coupled with a troubled economy, many Americans entering the job market find that they must pay more than half (often 60% or more) of their take home salaries in interest alone. Purchasing homes, starting a family, or even just living above the poverty level becomes an impossibility for this new class of indentured servants.
Forgiving federal loan debt could be a start, but predatory lenders are the real problem. They make huge profits on low risk loans that the borrower can't discharge with bankruptcy. Immediate action is needed.