Student loans should not be guaranteed by the government.
Student loans should be like all other debt and can be discharged by bankruptcy.
Neither the loan company nor the university have any skin in the game. They don’t care if the degree is worthless or not. They will get their money one way or another.
Take away the government gurantee and they will become a lot more selective in who they loan money to.
Neither the loan company nor the university have any skin in the game.
And that is the entire problem in one sentence.