This “feature” exists as a sort of government-backed guarantee to the lendor that the investment will eventually be paid back. It’s a large part of why interest rates for student loans are able to be reasonably low. Say what you will about the system as a whole, but I don’t think this particular narrow slice is the broken part. One only has to look at credit card interest to see the otherwise going rate for unsecured debt against the poor.
How about changing it so it can be dissolved via bankruptcy like every other unpayable debt?
This “feature” exists as a sort of government-backed guarantee to the lendor that the investment will eventually be paid back. It’s a large part of why interest rates for student loans are able to be reasonably low. Say what you will about the system as a whole, but I don’t think this particular narrow slice is the broken part. One only has to look at credit card interest to see the otherwise going rate for unsecured debt against the poor.