In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act was passed , and included in it a change which removed bankruptcy protections from private student loans.
Removing bankruptcy protections from both private and federal student loans has led to predatory lending behavior, has enabled unchecked inflation in the cost of college, has led to intolerably poor oversight in the case of federal loans, and caused a plethora of other negative consequences that have far outweighed any short term financial benefits to the lending side of the system.
The harm this has done to the citizenry has been incalculable. Therefore, we believe that bankruptcy protections must be returned to all student loans as quickly as possible.