Higher Education Loans dischargeable in Bankruptcy and limit interest rates and penalties to mimic savings account rate.

We need to stop strangling our children and parents with student loans and their abusive power of rate setting and collection. Students and their parents spend a lifetime repaying a debt for being productive members of society. It doesn't make sense. If you fall on hard times your debt is not dischargeable in bankruptcy. They also do not follow the same protocol as businesses do for garnishments. You receive no notification and your rate and penalties are set by them. You receive the garnishment. It takes them four years to respond to you. Meanwhile, you receive a 15% garnishment that is mainly going to penalties. Your principal never gets paid. It needs to change and it needs to be retroactive and relieve the many affected by it. Thank you for your time.