So what are you arguing—that we should continue to dish out humongous student loans to marginal students like crazy AND not make them pay them off?
If you’re a college grad, which is when you’ve got to start paying back your loans, you sure ought to be able to get a job at something. Many of those hanging at home are just waiting for their dream jobs, or choosing to take unpaid internships on the hope of advancing into a dream job. They really are about the last demographic taxpayers should be subsidizing.
Nope.
I would treat student loan debt like any other debt.
The only thing I might add is default insurance. A student might be asked to pay a premium each year while in school to cover the possibility of a default later on.
With default insurance, groups that tend to exploit bankruptcy law (like lawyers), or groups in financially marginal degree programs would be asked to pay a larger premium to cover the increased possibility of default.
Of course lenders might also charge higher rates to such groups so perhaps default insurance isn't necessary.