1) Make student loans dischargeable in bankruptcy.
2) Require the college to be on the hook for at least part of the liability for bad loans.
Overnight, college will stop accepting unqualified students, and offering majors for which there are few job openings.
YES YES YES. And, to make that fantasy even more delightful, let's hold those slacker professors responsible, too, for teaching rotbrained nonsense.
That's exactly correct. Go back to the way the Bankruptcy Code was in 1978, when the first payment on the loan had to be due more than five years prior to when the bankruptcy was filed before it was dischargeable. After all, bankruptcy is the system Congress has set up to deal with those who cannot pay their debts, with all the elaborate "means testing" the code now requires, so why make an exception for student loan debtors.