[ntkachov]

Not sure this will work out as planned. Theres no collateral against a college degree. If I buy a house, default on my mortgage, the bank owns the title and it can sell my house and I lose out in any value the house had. If my student loans were discharged during bankruptcy, I would still retail the value of the degree. Even if they revoke the actual degree, I still hold the knowledge. The result is that I basically hold all the value while someone else holds all the risk. Thats how you get colleges raising rates to cover risks instead of lowering them.