I am well aware of it and know that a well written contract is very hard to break. As for duress that will probably not apply to the incessant whining of a child trying to get into a school they cannot afford. Duress is when the grantor does something to coerce the guaranteeor (person signing)into signing. What is it the bank is doing to coerce these undeserving people? What scam makes people sign a paper of their own free will guaranteeing a loan?
Setting up strawmen and begging the question will not prevail when this becomes a genuine political stink. It’s not “banks” that were ever in the position to be holding the bag here. It is the government, and that is an eminently politically malleable entity. A bankruptcy proof loan is a very rare bird today outside of this student loan business, and it is unlikely to be considered conscionable for much longer because the scope has become so great.