Don't people realize that if loans are dischargeable in bankruptcy, that lenders would charge even more, meaning those who are able to pay off the debt they contractually entered into, would be adversely impacted because of those who fail to take the time to read loan agreements they enter into or call the lender to ask questions. There are ample websites (finaid.org) and books that clearly explain the terms and conditions of private loans. People need to also take responsibility for their actions rather than just blame student loan companies.

Also, taking out loans to finance your education at a school or in a field that won't result in adequate income is the fault of: (a) school's that charge too much, and (b) individuals who do not think about what their future earnings are based on their educational path. Claiming you have a large debt load that is unserviceable post-graduation, because you are not working or not maximizing your earning potential is not the fault of the lender. Lenders are profit motivated, just like individuals who pursue higher education to maximize their future earnings potential.