I may have to fax this in, or put it on the Facebook wall but:
Let the Government approach the student debtor.
Take out ANOTHER LOAN positioning the Student as CREDITOR (much like a bondholder would be) and the GOV as DEBTOR...
Lending procedure creates a COD (2-4 times BIGGER than what STUDENT has left to pay) COD gets held at Federal Reserve
Member Banks borrow to lend, paying back with interest.
Gov Keeps the end interest, credits payment to Student.
but the TWIST: if GOV needs spending portion of bulk of COD for any reason, each $1 taken, credits $3 toward student!
STUDENT DEBT gets paid off FASTER, letting GOV work for the STUDENT (rather than other way around), and STUDENT gets to head back to SCHOOL with MORE CREDIT!
(...and it could be TAX-DEDUCTIBLE!)
Sincrely,
James R.