Nearly two million students are graduating from college this spring, according to the National Center of Education Statistics (NCES), and many of them thousands of dollars in debt.

A recent Fidelity survey of 750 graduates found the average debt for the class of 2013 is $35,000. That’s a sizable sum considering that they’re graduating in an economy with a relatively sluggish job market.

They join the more than 38 million Americans who owe a total $1.1 trillion in student loan debt. Eleven percent of student loans were seriously delinquent—overdue at least 90 days—in the third quarter of 2012, according to the U.S. Department of Education.

A recent Wells Fargo survey found that more than half of millennials (64%) say they financed school through student loans—compared with just 29% for baby boomers—and paying off that debt is their top concern.

Among the reasons for those concerns: student loan debt generally can’t be forgiven in bankruptcy.

“The difficulty with student loans is that

Banks are “certainly safer than they were” in 2008 but they’re far from failsafe, according to former senior banking executive Sallie Krawcheck.

“I think banks and money funds will do just fine in a bad market, in a very bad market, and a very, very bad market,” says Krawcheck, who recently acquired 85 Broads, a global women's network. “But I do worry about a very, very, very, very bad market.”

Specifically, the former Citigroup CFO and head of wealth management at Bank of America worries that banks “continue to be hardly really well capitalized” -- which is a polite way of saying they’re still undercapitalized.

Dismissing the new Basel III capital requirements as “the most complicated construct the world has ever known” – and poorly conceived to boot – Krawcheck prefers to look at banks’ “plain old-fashioned leverage ratio” as the best indicator of health.

Back in 2008, many large banks went into the downturn with leverage ratios of 2% of assets, meaning “you can take a loss of 2%