Student loans should be dischargeable in bankruptcy

The student loan thing is a really good example of government inaction.<br><br>**There are no barriers to competition**. Private college/university administration has chronically underinvested in labor saving capital equipment and IT and that's the root cause. <br><br>**There are no barriers to entry**. A new university could simply offer a better service at a lower price, but the money goes to brick-and-mortar and not into better quality or lower price.<br><br>**There is no market failure**. Student debt would be self-correcting if there were not government guarantees. Lenders would pay a risk premium that matches the default rate, and would not originate so many loans.<br><br>**There are no government failures**. The major lender is the US government, and it simply doesn't collect on the defaulted loans, which incentivizes default among people who *don't* frequently switch jobs. In other words, collects from the most liquid individuals and leaves the taxes unpaid by the people who are hardest to track.<br><br>Our system is a supertax on young people (like high property taxes, which we also have), and our economy suffers because they do not have money to spend on new cars, roofs, redecorating their first place, or profesional licensing/certs.<br><br>Biden's forgiveness, or any forgiveness, is unpopular because everybody sees it as an unfair handout.<br><br>**There are no technical barriers to discharging them in bankruptcy**. You would just need to show that you couldn't afford to pay them and were not offered a job where you could pay them off quickly.<br><br>But I digress. It requires 3/5 of the Senate and 2/3 of the House to make it happen, which seems like an insurmountable hurdle in the next 5 years.