Another solution would be to let students discharge their debit via bankruptcy. That would be removing the government guarantee -- and letting the free market

Another solution would be to let students discharge their debit via bankruptcy. That would be removing the government guarantee -- and letting the free market work. Education (and healthcare for that matter) are NOT free markets. Free markets don't guarantee every buyer gets matched to a seller, in which case that buyer does without. Or vice versa. Sometimes there are leftover bread rolls at the end of the day -- the seller produced a surplus. Sometimes there's empty seats in a class room. Doesn't sound so bad, that way.