Your idea about bankruptcy is correct. Changing the bankruptcy law to exclude student loans as well as moving almost all student lending to the government is a huge factor in the absurd costs of any education program from colleges to flight training. You need a free market where only loans with a reasonable chance of being repaid get written. Let the lenders do the due diligence, they have the resources.

Saddling 20 year olds with crippling debt absolutely does not help the average Joe kid get ahead and climb the economic ladder. Claims that it does are all made by those profiting from the broken system. Scammers is exactly what they are.