Not at all! In fact, $10,000 is quite reasonable. I paid, well my folks paid, $18,000 a year for my college education, nearly 20 years ago.
Bankruptcy in some cases, in some situations, has proven to have a net benefit to the local economy of which the bankruptcy took place.
Rather than answer your question about what makes student loans different, other than the obvious, let me pose the inverse back to you. What makes you think allowing people to eliminate their students loans is a good idea? Knowing that the person knowingly took the loan to pay for a specific college, knowing the cost of said education and cost of carrying such a loan.
My personal opinion on the matter is that a student loan should be treated no differently than a mortgage. A long term debt to be paid in exchange for an individual's livelihood.
And again.. there is a rare exception that people can prove undue hardship.
I am fiscally conservative, if you couldn't tell by now.
I think the debate should not be about what to do "after", but rather what to do "before". Work on lowering tuition by other means besides having everyone declare bankruptcy. Or perhaps allow people to declare bankruptcy but then have that bankruptcy follow for the remainder of their lives. I'd be cool with that. -- Or, like other conservatives might say, don't attend the college that is too expensive, go somewhere else. --- Or, like a progressive might say, regulate it.
