There has been talk of the student loan (SL) bubble being the next one to burst going on five or six years now.
I have to ask: Would you work hard to pay off your student loan if there was a lot of talk that they might be forgiven?
Yeah, me neither.
They need to foreclose on a few thousand of these SL deadbeats to send a message to the rest of them.
I agree with you. Some garnishments on pay might be in order, or hold up their tax refunds, etc. This might start to get their attention.