[julienb_sea]

How is this going to solve anything? Unless the school itself has skin in the loan, currently the only impact of bankruptcy discharge would be on private loan operators (who would probably go under) or on taxpayers who would absorb the loan losses. The schools are getting paid their tuition from the loans immediately, they won't even notice.

[morsch]

Presumably the idea is that guaranteed student debt is what enables US tuition levels. The schools will already have been paid, but the next generation of students won't be able to get loans for tens of thousands of dollars -- the lenders will have gone under and nobody else will want to be in that business, so universities will have to lower prices.

I think that's the idea. It sounds rather painful to me? But the status quo is also very weird?

[Racing0461]

> taxpayers who would absorb the loan losses

that's no different than what we have no. we don't need everyone going to college especially to major in history of tampons type degrees.

the end goal is for loan companies to decline people who won't be able to repay their loans given the expected value of their degrees. (Your future earning potential is the collatoral for your loan).

For people that want to "expand their horizons", they can go watch khanacademy on youtube.

[imchillyb]

Your mentality is why so much of the world is set back centuries from the USA.

That's the old Brit way of thinking, and we sent that packing over a century ago.

I'd thank you to not return us to the 'good old days.'