Bankruptcy protections are a fundamental and critical component of any free market lending system. Student loans, however, have been uniquely of these important protections, and the results have been devastating.
Removing these protections has caused a lending system that has enabled unchecked inflation in the price of college, and worse, has created a structurally predatory lending system where the financial interests of the lenders is turned against those of the borrowers. This injustice has been allowed to persist for far too long, and millions of citizens are being financially devastated as a result. Returning bankruptcy protections is the minimum that must be done to prevent the entire lending system to lose all credibility.