Most people starting college are 17-20 year old young adults with income and assets far below what would be needed to take out $30K-$100K+ in loans. Not enough

Most people starting college are 17-20 year old young adults with income and assets far below what would be needed to take out $30K-$100K+ in loans. Not enough lenders would want to take that risk, unless they have the taxpayer to back them up in case the borrower defaults. If the borrower's allowed to wipe their debt in bankruptcy, then a lot of students will simply declare bankruptcy as soon as they leave school. The students who play by the rules are burdened with debt, and you're subsidizing people who game the system to their advantage. The fairest thing to do, then, is either subsidize everybody, and have taxpayer-funded higher education (but that's expensive). Or subsidize nobody, and let people pay their own way (but that leaves behind students whose families can't afford it). Or fund the most promising students, and make everybody else pay (but that leaves behind students who don't have good academic record). Personally I don't like the idea that our society starts its newest members out with a huge debt burden.