On the flip side. The markets never going to right itself until students understand just how dangerous this debt is. Until we have hundreds of thousands, perhaps millions, of enraged, unemployed people with hundreds of thousands of unpaid penalty accruing debt living marginally or homeless and screaming from street corners, new hs grads will not get it. The market needs signals and allowing bankruptcy will stop that perpetual underclass from forming and letting the market know that student loan debt could be toxic to their future.

Our only hope us to allow a generation of failed students to be crippled with debt so those that come after them will know to tread carefully.

That, or we could just eliminate govt guaranteed loans and tuition prices would fall.