patrick.net

While it's true that the personal cost for bad borrowing decisions should not be pushed onto taxpayers, much lending is also predatory and always has been, exploiting ignorance about how quickly compound interest accrues.

I was working at Wells Fargo in I think 2006 when student loan debt was made non-dischargable as a gift to banks and their lobbyists. Even then I thought that it was unfair to make this one kind of debt especially onerous.

And this gift to the banks has had the desired effect of trapping millions of naive students with debt for life, debt that a lot of them can never realistically hope to repay.

My argument is that student loan debt should be treated like any other debt, as the Constitution has this:

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States

One could argue that they meant uniform across states, but one could also argue that they meant uniform across all kinds of debt.

So I would support a Supreme Court decision which makes student debt once again like any other kind of debt.