On the other hand, this sort of needs to exist on some level for two reasons:
1. If you go bankrupt, most stuff can be taken away if you can't pay for it. I can take your car, house, etc, but I can't take you education. You still have the full and complete value of that, so I'm not sure it's obvious that bankruptcy should remove the debt.
2. When you graduate, you typically haven't really got any money yet. It would be very easy for recent grads to just go bankrupt before they start accumulating wealth, and then go on with their lives without the loan debt.
1. If you go bankrupt, most stuff can be taken away if you can't pay for it. I can take your car, house, etc, but I can't take you education. You still have the full and complete value of that, so I'm not sure it's obvious that bankruptcy should remove the debt.
2. When you graduate, you typically haven't really got any money yet. It would be very easy for recent grads to just go bankrupt before they start accumulating wealth, and then go on with their lives without the loan debt.