Joe Biden pushed through the bill that overhauled bankruptcy and made student loans exempt.
There is a false narrative used to support this as if people were just discharging all of their student loan debt and this endangered the fiscal welfare of colleges.
This is bullshit.
Colleges have been able to raise the hell out of their tuition and teach kids woke crap that is useless in the real world while all the time adding to the ever expanding number of administrators BECAUSE of this exemption for student loans.
A college will actually provide skills useful in the real world if the debt can be discharged. Lenders will actually need to consider if the loan is fiscally responsible. And a college will need to justify its tuition price.
Making all student debt guaranteed money for the schools and largely eliminating all private lenders has made the woke infiltration possible and made the post college lives of students who are duped into the scam.
Almost all bad debts are dischargeable , very few people would scheme to go through a chapter 7 to discharge college debt, if you provide a good degree the debtor won’t qualify on the means test to file…
We can stop all this nonsense about student loan forgiveness and just treat student loans like every other debt. Then useless woke universities can load up on useless woke administrators and staff because they won’t get nearly unlimited government money that is permanently non-dischargable to the poor bastard who got fooled into signing for it at 18 years old.
If you worry about abuse, make it non-dischargable for like 5 or 7 years after you take your last class. People will be living their lives and not playing some decade long con to discharge student loans at that point.
Take Joe Biden’s gift away from the universities and kill the magic income fairy that allows universities to be useless and woke.
I talked to JD about this at a very early senate fundraiser (in my neighbors backyard) and I know he gets and seems to agree with this.