[drcode]

Clearly you have thought deeply on this issue. I can agree insofar that I think that I think it would be reasonable for student loans to be dischargable by bankruptcy IF we can have changes to the bankruptcy law to make it carry stronger deterrents. In particular, it is not rational to have limits on how long a bankruptcy stays on your record, if it includes student debt (a college degree cannot be repossessed by a bank.)

The fact is that someone that made poor life decisions is at high risk of doing so again, and their credit rating should permanently reflect this. Otherwise, the loan & bankruptcy system rewards people who go into bankruptcy at the cost of other, more responsible people who are trying to get loans at a reasonable interest rate.

Without this, abuse of the bankruptcy system to "wipe away" student loans would be rampant, and we'd just be kicking the can down the road in a new way again.