I am so sick of this. If you are going to let students discharge this debt, then have the colleges make the loans. Let them suffer. They are to blame in large part for suckering kids into taking useless overpriced courses and then throwing them to the wolves in the market. Of course, kids who take these courses and don’t take their studies seriously are to blame too. The one party who is not to blame is the US taxpayer, who is getting screwed left and right already.
This whole mess began when we made someone other than the seller (college)libel for making a bad decision i.e. financing a worthless degree. I recall when I was in school, I was at my last semester cash short. My only asset was some stock I had acquired by working. I went to a bank and wanted to get a loan on the stock...the answer was no. Eventually I had to sell it and use the proceeds for my tuition. It really POed me but I learned a lesson which was don’t sign up for anything for which you cannot pay. This was before the student loan program of course.
Yep. And the colleges wouldn’t make the loans, because that would bankrupt them. Which gets us back to where things ought to be: lower cost, rarely financed, and requiring hard work and dedication from students.