Today's Wall Street Journal ran another bleak piece about student loans spiraling out of control.  I've seen the same article for years, only the numbers change (they increase, obviously).

This morning's dispatch covered PLUS loans, which allow parents to borrow the entire cost of attendance at a given college, with very "light" underwriting, to say the least.

I won't lie, the stats are pretty depressing:  1.6 Bill in debt outstanding, and growing.

Defaults, credit issues and no relief in sight from Congress, apparently.  

And, sadly. zero incentives for colleges to cut their own costs, because they're getting paid from loan proceeds that gush into their coffers from eager parents, early and often.

But the WSJ leaves out an angle that's important to discuss:  borrowers' decisions to take on all this debt.

The piece mentioned one guy who graduated Georgetown Law, he owes $318,000 and works in a homeless shelter. I'm pretty sure he's not making millions.

Then there's a mom who owe...