And interestingly enough, the government agrees as well. Student loan debt backed by the government is difficult to discharge through bankruptcy - http://www.usnews.com/education/blogs/student-loan-ranger/20...

Indeed, and I strongly disagree with that. It's a feeble attempt to prop up an unsustainable market, at the cost of people's futures. When the student lenders eventually go broke (and they will) I doubt they'll stick to their philosophy of "gotta pay what you owe".

Why will they go broke? A large proportion of student debt is guaranteed by the federal government.

actually that law predates the explosion of the student debt market. it was intended to close a loophole - lore goes that law school graduates would default on their student loans just after they passed the bar and got their first law firm job