In an aside, loans made to college kids to get a quality education is not a ridiculous loan on ridiculous terms to people who can't afford them.
> "In an aside, loans made to college kids to get a quality education is not a ridiculous loan on ridiculous terms to people who can't afford them."
I'd like to disagree with you and I believe that a default rate of > 13% (and rising sharply - http://www.ed.gov/news/press-releases/first-official-three-y...) supports my statement.
That is colossally stupid. We need a better way to certify people for things than wasting years and tens of thousands of their dollars on this nonsense.
That seems perfectly appropriate to me (and I assume to you), but this lack of being able to predict the future income stream of an individual is a large driver in making them not dischargeable, because that allows the product to exist.
Because I agree with you(r presumed position) that these are not ridiculous loans and that their availability should be encouraged, I'm strongly in support of the terms necessary to make them available.