Alter the bankruptcy code to allow judges to discharge private student loan debt under Chapter 7 bankruptcy the same way they’re able to discharge credit card debt.
Currently, ONLY WAY to discharge your PRIVATE STUDENT LOANS is to either DIE or become disabled/unable to work. Unfortunately, neither is a great option for a student who is victimized by predatory lending practices of banks targeting ambitious teens!
Bottom Line:
Anyone can take a trip to Vegas (or Atlantic City) tomorrow, borrow $100,000 from a casino, gamble it away, and have it discharged by a judge a few months later because he or she lost his or her job. A degenerate, irresponsible gambler can seek the protection of the government from banks; why can't ambitious and responsible students get that same protection