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You'll trade one problem for another. Make student loans dischargeable and you reintroduce risk (aka reality) to the situation. The money dries up to some effect, but now the argument becomes "won't someone think of the children!!!"
Student loans have been removed from reality for long enough that a sudden return to it would be just as disruptive as continuing along the same path towards disaster that we're on right now.
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'87 924S (Sold)
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