Not yet, but it&#x27;s on the horizon.  The current model of student debt for a degree which conveys little to no advantage in the job market is unsustainable.  Once it starts to turn the deflation will be rapid and impactful.  Not only does higher education employ lots of people (funded by student debt) but also keeps millions of hard working 18-25 year olds who would otherwise need jobs, out of the work force.