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If this is true, we possibly may assume education loan debt to improve inside the market meltdown Alternative Explanations and you will Stop Narratives: The good Recession as well as the Transition so you’re able to Adulthood The original, and maybe most obvious, applicant ‘s the High Recession. The fresh credit crunch you to first started about third quarter out-of 2007 is actually the latest deepest financial crisis in america because High Anxiety.