“Hell No.”
“Again, Hell No.”
I’m with you. The reason why student loans are not dischargeable is because they wouldn’t exist if people could simply walk away from them (at least private ones wouldn’t exist).
So how about a compromise - make them collateralized, like car loans. Allow the borrower to walk away from the student loan, but then allow ‘repossession’ of the college degree. Walk away from the loan and your college transcript simply VAPORIZES - cleared out of university records and any other records, and claiming that you have a degree when you no longer do would be fraud.
Now that would never happen, but proposing it would FORCE the deadbeats and their supporters to BE TRUTHFUL about their intentions - that they want free college - not really loan relief.
The vast majority of bad student debt is from those who never completed college. Half or more of most student loans are for ancillary expenses - housing, food and mandatory medical insurance and anything else that could be charged to the student account.
That said, sounds great - don't pay back your student loan, you can't claim attendance or degrees from a college.
The point of any loan isn't to drive the borrower into financial ruin, but to make a bearable financial arrangement that is beneficial to both the borrower and the lender. If you require an exception to bankruptcy law to justify the loan you're about to make, you're not there any more.
Garnishment is the answer.
If the IRS will garnish your income to pay income taxes, then they (or some similar agency) should garnish your income to pay your student loan should you default.
I believe it already is a requirement of getting a student loan that allows this. So if you don’t like it - don’t apply. It’s voluntary.