![Happy Birthday Mike Rowe: "We are lending money we don't have to kids who can't pay it back to train them for jobs that no longer exist. That's nuts." [551x919 - 176KB]](https://pic8.co/sh/3QSqOe.jpg){kind=link}
Let student loans be dischargeable in bankruptcy again. When there is risk, banks will take an interest in only loaning money to students and fields of study that are likely to be able to repay. The whole aim of making student loans 100% risk-free for the banks was to take market forces out of education so they could supplant those forces with their social agenda. When the banks take on the risk of financing a gender studies degree, they are suddenly less willing. Go figure.
Banks are almost entirely factored out of the student loan equation though, as 0bama established what is effectively a federal monopoly on student lending.
The only quibble is that the feds will be all "Oh, SallieMae is private", which is a distinction without a difference in this case.
Banks own majority stakes Sallie Mae.
And the Feds--and the Fed--own the banks.
(post is archived)