If I understand OP's point correctly, it's that there is no bankruptcy protection whatsoever, even with a qualified co-signer. And maybe there should be. Furthe

If I understand OP's point correctly, it's that there is no bankruptcy protection whatsoever, even with a qualified co-signer. And maybe there should be. Further, if one does not qualify for government loans, banks are the only place to go, with lower interest rates being a moot point. BTW I am very intrigued by your idea of having a school cosign for a student after the second year. If nothing else it would force schools to think twice about their acceptance habits. It seems to me to be more in line with academia's not-for-profit interests, but I guess tuition dollars are too entrenched at this stage?