This is easier to resolve than people think.
Step 1: allow students to declare bankruptcy on their loans after a period of time if they don’t have employment capable of repaying those loans.
Step 2: claw the money back from the colleges and universities who used those students as conduits for loan money without educating them well enough to obtain loan-paying jobs.
Stick it to the overwhelmingly-liberal educational-industrial complex. They deserve it.
Another scary thing rarely mentioned is the existence of SLABS (student loan asset-backed securities), which risk a replay of the mortgage securitization mess of the previous decade. Those instruments really never should have been permitted, but, it’s too late now.
If only we can get the government to supply 1.2 trillion. Then student loan debt could get to a more manageable 2.4 trillion