Are student loans the next bubble?

Nicholas Pardini over at the blog Seeking Alpha (see here) has a post about something I have mentioned before: student loans.  He says:

America's debt crisis did not end with the subprime mortgage crisis. Mortgages, may set off the trigger, but the student loan debt is an overlooked bond bubble waiting to crash.

He worries that student loan debt is on a trajectory similar to housing.  He concludes:

Overall, the student loan bubble is the next domino along with sovereign debt that will fall as the Western world deleverages. Student loan borrowing is rising at unsustainable amounts, and the combination of a weak employment market and the overpricing of higher education will ultimately bring large-scale waves of uncollectible defaults.