With student loan debt reaching approximately $1.4 trillion, critics are concerned that student loans may be the next financial bubble to burst. They cite students with loans of more than $100,000 and ballooning loan default rates. They contend that borrowing for higher education may not be worth the financial risks, especially for students who attend private institutions. Some even argue that students should not incur debt to attend college. What is the truth? This presentation examines a number of myths about college students' indebtedness and sets the facts straight with the most recent data available.