#rsrh Dick Durbin actually does something useful.

He’s pushing for a bill that would allow college students to discharge their student loan debts via bankruptcy.

Yes, I know, our entire financial system will take a hit when that happens.  I’m not the guy who made the debts not removable by bankruptcy in the first place, and I’m definitely not any of the people who jacked up tuition prices so badly, either.  It’s a crisis that’s not going away, and if there’s a better way to solve the problem of the tuition student loan bubble that won’t involve copious amounts of pain, I’m all ears.

And mind you: I paid mine off.

Via Instapundit.


  • HeartbreakRidge says:

    I note a key word: “PRIVATE” student loan debt. That makes me wonder if this is less useful, and more partisan hackery, than it appears at first glance.

  • Rob Crawford says:

    I thought student loans were nationalized as part of Obamacare. If this only applies to private loans…

  • PubliusNV says:

    They were, Rob. Hence the partisan hackery.

  • acat says:

    Nah. Durbin’s still useful only as a way to convert food into fertilizer.

    I don’t have a problem with discharging student loans, but .. to Rob and Heartbreak’s point, it should be *all* student loan debt.

    As currently structured, all this does is to force banks to look for a way to shuffle their student loan debt over to the government .. ala Freddie Mac and Fannie Mae… setting us up for another .. fertilizer sandwich.


  • acat says:

    kowalski (does that work here?) Ever had to fill out a FAFSA? All colleges now require ’em, and they’re worse than a 1040!


  • acat says:

    Yeah, again. kowalski.

    On reflection, this is targeted at IIRC Hillsdale… The “college of conservatism” in IIRC Michigan somewhere, the one Beck talked up and had profs on from and that ..again, IIRC .. refuses to take students who file for federal aid.
    They accept $0 in federal dollars because, if they did, they’d have to put up with the whole sturm und drang of left-mandated speech codes etc. etc.

    How does a college student go there without taking out a private loan?


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