Below is a link to a White House petition asking the White House to allowed private student loan borrowers to be allowed to discharge their debt through bankruptcy.
https://petitions.whitehouse.gov/...
More on this below the fold:
Last fall, Hofstra University had Alan Collinge come speak to students about student loan debt. Alan Collinge is the name behind StudentLoanJustice.org, a group advocating for the point of the above petition. Collinge is the real deal; he was one of the earliest participants in the Occupy movement, and advocated for this issue during that time. His story explaining how he arrived at this cause is itself interesting, and devastating.
Among his arguments against the federal government barring bankrupting on student debt are the following. 1) The federal government has an incentive to keep people in debt because it makes money off of the debt. 2) They make more back than the original principal, the only loan backed by the government gets near this return. 3) The federal government functions as a debt collector for private banks. You can find out much more at his website: http://studentloanjustice.org/...
I could go on and on, but I won't because I suspect many of you here already agree. We can continue discussion in comments if you feel compelled to challenge this idea, or have questions.