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And one wonders why the Post Office, IRS, etc are so dysfunctional.
Catastrophic . . . for whom?
Exactly!
Rather than debt relief for former students, the Federal Government should loan $10,000 less per student starting this year. Hold that $10,000 in escrow for 4-6 years until the school proves the student has full time, gainful employment. If no proof of employment, then no payment to the school. That will encourage the schools to tighten their belts and do a better job of vetting students on the front end. Everyone is better off, especially the students.