Wuhan virus should be used as an excuse to forgive all student loans. If someone was stupid enough to get a $300,000 gender studies degree, taxpayers should not be on the hook.)
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To me the main problem with student loans is that the schools have no skin in the game. They are the only party in the transaction that is protected.
The simple solution is first get the government out of any involvement with student loans. Next allow student loans to be treated like any other debt, that is they can be cleared by bankruptcy.
Put the risk back where it belongs, on the schools and the leading institution.
In other words do away with college loans completely? What financial organization in their right mind would extend a loan that can be done away with the moment the student graduates simply by declaring bankruptcy?