The school, bank, whatever should be on the hook (as well is the student). At this time, you cannot declare bankruptcy for student loans and you never should be able to. Also, the government should not back any student loan and they should be EXTREMELY hard to get.
College is just extended day-care for the brain dead masses at this point to trap them in debt until the end of their lives because they are too fucking stupid to do something about it.
Range one me. That is fine.