Should Student Loans be Dischargeable in Bankruptcy ?

[exboyfil]

28. Many people being in college is a lifestyle choice

Even with the current laws they continue to wrack up debt for additional education without any thought as to how they will pay it back. It may seem strict but the loan forgiveness measures are getting us pretty close to a huge bubble down the road in which loan dollars will become scarce because of the level of defaults or use of payments based on income and not the actual amount loaned.

Lets start with loaning only to schools and majors who have a good track record of paybacks. Also we could make an assessment about the background of the individual receiving the money - if they have a spotty High School record, then maybe they should not get a loan unless they are in a major with a good payback record. Test for additional loans by looking at the GPA and completion of major.

Perhaps more merit money should be made available instead of loans? Instead of a strictly Pell grant for everyone who qualifies, how about a sliding scale based on merit as well so more middle class individuals can access Pell grants. Right now the EFC is completely insane for a parent's ability to help with college.

Public universities could also do more to lower costs for students. The first would be to mandate the use of open source textbooks unless compelling reasons are shown for using a proprietary (expensive) textbook. Really should Calculus, Chemistry, and Physics textbooks cost $250/each? Another would be to make more lower cost options available for students to live on campus. I really have a tough time believing a $10/meal meal plan is necessary. The meal plan edifice is built entirely on the presumption of providing a certain number of meals and pricing to force on campus students to take the full plan.

What really amazes me is the cluelessness of the educational structure starting with the High School counselors and teachers. I am trying to work towards having my daughter finish her Freshman year of engineering at home while still in High School. Such a move will save up to $20K (credits much cheaper, some are paid for by the school through PSEO, and she does not have to live outside the home with an expensive meal plan). They seem to think it is outrageous that we would even attempt such an approach. It seems that should be my daughter's decision. There are only 20 scholarships/year where she is going that have more value than $20K. Her likelihood of getting such a scholarship is pretty low based on previous history.