There are many parties here to share the blame: the colleges that foist the loans on students, the federal government for encouraging the system, the politicians who voted for this, the parents who blithely allowed their children - and themselves - to get wrapped up in obscene debt, and the students, themselves, who are all supposed to be smart enough and mature enough to go to college, after all.
You demonize one party, but this isn't a case of bad guys (colleges) and innocent victims (students and parents). For those who were doing the borrowing, what part of the word “loan” did they not understand?
In any event, even if all that you said were totally true, and other parties shared no blame, that is hardly any excuse to try to foist unconstitutional solutions onto unwilling parties, violating important principles of contract law along the way.
That's democrap behavior.
sitetest
But, at the moment, the college loan industry is doing NOTHING to share the costs. The colleges get to continue jacking up tuition far beyond the rate of inflation and the loan industry continues to enjoy taxpayer protection and better than market rate interest on loans which would never be made otherwise.