Chief economist of Moody's Analytics Mark Zandi says the $1.5 trillion of outstanding student loan debt has created a 'crisis' for young Americans.
He says it is part of the reason millennials are waiting longer to start families, buy houses, and launch businesses.
To solve the problem, he suggests shifting focus from providing student loans to increasing the supply of education options – including trade schools, online learning, and community colleges.
Watch the video above for more from Zandi on student loan debt.