That is a fair question, but I think it boils down to the gubbamint "getting theirs". I think everybody that is paying attention now realizes that government backed student loans are what's driving the out of control costs of university education. The curves have finally crossed where those loans are no longer serviceable for degrees like women's studies and 19th century French Poetry. So like everything else now in a socialist government, it has essentially become an entitlement.... actually, for those WITH loans, it is slavery. Exactly what the current administration wants. I digress. So individuals are held to those agreements because the government gets theirs, but in the case of corporations, they can break agreements with third parties if necessary for "survival". It ain't fair, I agree, but that is what it is.... unfortunately. Actually, I don;t think student loans should be bankruptable. If Susie schoolteacher goes to Harvard to get her certificate, and only makes $20K/year, well she made a bad choice, and it ain't MY responsibility to pay for her mistake.