The government changed the bankruptcy laws to exclude student loans completely. To me that was a mistake because there will be some people that will never be able to payoff their debts and student loans are part of that debt.
Change the bankruptcy code to allow student loans to be included after x years (after college) to keep people from filing right out of school and then treat them like every other unsecured debt.
Hubby has been paying on his MBA loan for 20 yrs and it’s barely gone down at all. About 10 yrs ago they surreptitiously sold his federal loan to a private entity, thereby making his loan ineligible for any loan forgiveness since these programs only pertain to federal ones.
A better idea is to force the school to be the co-signer of the loan.
If the student defaults, they get a hit to their credit for 7 years but the school needs to pay the loan back in full to the lender.