[strken]

The important thing here is that with regards to US student loans, the market is already deciding everything, but it's backed up by the government having made it impossible to escape student loans by declaring bankruptcy.

That system could potentially be a lot less unfair and a lot lower cost if the government didn't put its thumb on the scales in favour of lenders. This would be true even if the system was still unfair.

There's probably a deeper conversation to be had once the system is closer to neutral, but the point is that it isn't anything like neutral: it's blatantly biased against students.