Two-thirds of this year's college grads are looking straight down the double-barrel of serious student loan debt; that number is close to 90% at private institutions. And just over the past few years, it's become harder and harder to consolidate those loans at reasonable interest rates.

But it's not just students with limited cash flow these days; in the aftermath of the subprime mortgage debacle, the lenders of those loans are in serious trouble. At the same time, tuition costs are rising, the dollar is tanking and the U.S. economy is generally stumbling around like a skinny freshman girl after too many rounds of flip-cup.

Don't worry, though -- the Senate is here to bring her a trash can and hold her hair back! Today they unanimously passed a bill that will supposedly stabilize the $85 billion student loan industry by allowing the Education Department to buy up the loans, more or less nationalizing the student loan industry. Um, yay national debt! (Maybe they can give some of that money to the kids in Georgia, where 60% of tech-school students get zero aid.)

Thing is, it looks like this same Senate was pouring the drinks all along. Last September, they cut interest rates on loans (shuffling the difference off on tax payers, obvs); then they cut deep into yield rates on loans from troubled lending giants such as Sallie Mae, who says they've lost money on every loan since. With thousands of college students seeking another round of loans this summer, the government had to shore up the industry with capital before it all came crashing down...

But New Yorkers, don't worry! Your state government actually cares about your future. Congrats.