Why 15 years? Let people declare bankruptcy and cancel all their loans. The worry back in the 70's was that people would get a lot of loans and then declare b

Why 15 years? Let people declare bankruptcy and cancel all their loans. The worry back in the 70's was that people would get a lot of loans and then declare bankruptcy after graduation and then no one would lend money and no one would afford school. I can see why they were worried about that. We got something much much much worse. If students could declare bankruptcy, people would still make educational loans, but only for a few thousand dollars. Schools would have to lower prices.