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If I recall, by the late 80’s or early 90’s, it became a routine practice for recent college grads to default on their school loans, and simply file for personal bankruptcy instead. They were young, had no assets, so they didn't care. The problem eventually became so widespread and epidemic that the government had to pass new laws stating that student loans could not be discharged via bankruptcy. Hence the situation we find ourselves in today.

I read part of a testimony before congress, or an article on the subject, and this occurrence was actually very rare. It was an urban legend--fomented by the blood-sucking banks who could easily take advantage of students who didn't know their a$$ from a hole in the ground enough to make financial decisions.

There WERE some highly educated professionals (doctors) who did this, but it was rare, too. Turns out most people don't like to have a bankruptcy on their record and did what they could to avoid it. Unfortunately, as evidenced by comments on this thread, college costs have become so high, that it is nearly impossible for a student to work part time or full time to cover the cost. Gone are the days when many of us paid no more than $300-$400 for tuition, school fees, and books. Students are now lucky to purchase a single book for that amount of money.

Turns out most people don't like to have a bankruptcy on their record and did what they could to avoid it.

It used to be getting pregnant before marriage was shameful as was sitting on welfare for years,too.

Maybe rather than to continue to play the game, feed the beast and incur more pointless debt, the yutes should find alternative ways of learning a marketable skill? (And yes, maybe I'm old fashioned and naive.)