What I've been saying for a while

Peter Morici points out what is wrong with higher education--far too high a price for far too little actual education--and points out that if loans are made by private lenders and are dischargeable in bankruptcy, a lot of the shenanigans in higher education would end.

In other words, as I've noted a few times before, bring back the green eyeshades guys to ask people "now how do you propose to pay back a quarter million dollars in loans with your Ph.D. in ethnic studies?"  (real example of someone I met)  It is beyond time to get the government out of the business of making student loans.