Student Loan Bubble Hold onto your hats folks; SLM Corp, Nelnet, Navient are in for a slide. Lots of court proceedings piling up on nelnet in particular. We are going to see the 2008 crisis repeat itself. This time with student loans. Jerome Powell nervously spoke to senators last month about discharging students loans in bankruptcy. RIP. This student loan bubble is one of the biggest scames that the United States has ever been a part of.