Should student loan debt default be allowed in some cases?

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Thankfully I really lucked out on this issue - I worked through school, went locally, and accordingly commuted without taking out much more than a total of $10,000 and had it paid off within a few years.

I keep hearing more though about how many people get out of college these days with huge debts, high interest rates, and it seems like when degrees are this popular it's starting to head in some cases toward usery.

It makes me wonder if there should be some criteria, hypothetically lets just say job placement rate, where if a school fails a certain % job placement for a given year and based on certain incomes and responsible payback rates the students at that school, or educated in that department, can default on whatever load debt they have related to those classes. That example, phrased that simply, could be too blunt an instrument in that it could reward bad behavior on the side of some students as well but the point being - there's probably a right way to slice this down the middle to where the situation has some amount of proportionality.

My question here, for anyone whose given this sort of thing more thought than I have, if you were in charge of building some type of law package to be passed through congress to allow for conditional student loan default which criteria would you choose? Why?

Thanks to most of my financial aid being grants, I've only had $16,000 initial principal of those extortion loans, but I haven't been able to pay them back yet. With time and exponential interest, I'm sure they're way more now, but after I can actually afford them they'll be gone. I'm just going to pay them lump sum rather than go with their stupid programs of endless payments.

It is extortion though, and loans are why college prices are so aburdly expensive: the colleges have no liability, so they can charge whatever they like, and they just rake in the dough at the expense of the students and the state.


What I would do? Have no more loans for anyone. Declare a year of Jubilee, all debts cancelled, and then have only grants for college and make education a public service as much as possible, but remove all multiculturalism, feminist, racist, statist, or propaganda otherwise from curriculum and have education be only about education and cut all the SJW crap away.