Panelists at this week's American Securitization Forum annual meeting drew comparisons between the mortgage market bubble to the one that is happening right now in student loans.

While mortgage debt is ebbing away, the amount of student loan debt is rising. Christopher Flanagan, head of U.S. securitized product research at Bank of America Merrill Lynch, said that student loans are "way overvalued" and borrowers are coming out of college who "cannot support that debt."

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