[throwaway189262]

I think this is a symptom of the problem. Schools needed a new revenue source when states cut funding and college enrollment skyrocketed. They turned to government loans to avoid raising taxes.

I'm not a history buff but this is how I interpret us reaching out current situation. Undischargeable loans is debt slavery and should be abolished. The very purpose of bankruptcy is to prevent situations like this.

The realistic outcomes are either government bailing itself out on discharged loans (after all, the school has already been paid). Or, probably a better decision, increasing state school funding to the dollars per student that existed in decades prior. Option 2 would be extremely difficult politically until mellenials overtake baby boomers as the dominant voting bloc in a decade or two