I will go you one more honest and succinct.
Student debt should be fully dischargable under bankruptcy laws.
Whose bankruptcy? The student's or the nation's?
That will effectively end the student loan program.
If that's what you want to do, why not say so?
I remember the argument when the debt was made non-discharable under bankruptcy. Congress had passed a law requiring retirement programs to be fully funded. Courts held that included retirement programs for government employees. Congress decided not to raise taxes, but to be a larger player in long term student debt, most of which is at high interest rates. The problem was, student debt is the first thing a bankruptcy judge did away with. Obviously, $50,000 for a BA in Gender Studies has no value. Under the law as it stood, government retirement programs could not be viewed as funded if any judge could waive it away. Hence, the law change.
Incidentally, when I was in college in the early ‘70’s there were a couple of engineering “students” in their fifties. They had never had a job outside of school. They had been students since leaving high school. One night while working in a lab, I asked one of them about it. He was nonchalant. He said, working was for idiots. He liked being a student; the parties, the drugs, etc. He financed the whole thing with government loans. Periodically, he declared bankruptcy and started all over. I am guessing he must have done that a couple of times. Of course, those were different times, but I think the idea of being a professional student has been around for a long, long time.
It was, before Obama.