College graduates and current students are swimming in a sea of debt. As of this writing, the total amount of outstanding student loan debt has been estimated at $960 billion. The Occupy Student Debt movement, inspired by Occupy Wall Street, has suggested that all student loan debt should be forgiven. As a starting point, members of the movement ask "that borrowers default on their student loan payments after one million individuals have similarly signed the debtors' pledge". Others have compared the borrowing for college to the borrowing that occurred in the run-up to the housing-market crash. But are colleges and universities really creating the next big bubble? The author opines that the real problem is that students probably aren't borrowing enough. Many exhibit a reluctance to borrow even reasonable amounts, a condition known as "debt aversion." In the future, student debt aversion may grow, causing a crisis of not too much student debt but too little. There is every reason to think that an increasing number of young people will exhibit debt-averse behavior, even as they face higher tuition, lower government financial-aid support, and probably less grant funding from both state and federal governments. The new crop of students will also need higher education more than cohorts in the past, as the difference in earnings between high-school and college graduates continues to widen. In this article, the author offers options for students to do other than borrowing. He argues that the Occupy Colleges movement's members are right to be angry about college costs and to demand reform in the way student loans work in this country. But they're wrong about the proposed solution. Instead of cutting a one-time deal for themselves, they should consider proposing a long-term solution that would work for everyone. (Contains 20 resources.)