Comment by adevine

Here's the problem, though: since student loan debt is one of the ONLY types is debt that is almost impossible to discharge through bankruptcy, banks and colleges have almost no incentive to do proper underwriting. They are pretty positive they'll get their pound of flesh, come hell or high water. If there were better rules around getting rid of these debts in bankruptcy ("You loaned 200k to someone who wanted to get an English degree at a low tier, private college? Then you, the lender, deserve to lose."), these ridiculous loans wouldn't be made in the first place.