Change the bankruptcy code to allow discharge of PRIVATE student loans in bankruptcy.

Currently, student loans may not be discharged through bankruptcy. With the total national student loan debt amount passing the $1 TRILLION mark, it is time we start thinking about way to allow indebted students a way to have a fresh start with a clean slate.
There are two major differences between private and federal student loans. Federal loans are back by the government, i.e. the Department of Education. These have mandated interest rates that are kept low, as well as many different repayment options for cash-strapped graduates.
However, private student loans were made based on credit, and are only backed by a financial institution. Private student loans are much the same as a credit card or an auto loan, only these funds were used to pay for an education. Change the bankruptcy code!