The student loan system needs serious reform. It encourages students to take on debt with the student holding the bag and then ultimately the taxpayer, based on

The student loan system needs serious reform. It encourages students to take on debt with the student holding the bag and then ultimately the taxpayer, based on an individual judgment about whether a particular degree will have market value. One reform that has been suggested is to make sure that universities have skin in the game, that they actually lose money when a loan defaults. I'm not sure we should go there but there should be a system better than debt servitude for students coupled with moral hazard for society.