The loans that were protected from bankruptcy from 1978 to 2005 were student loans to the federal government. They weren't private loans to banks.

Therefore before 2005, banks that lent money for student loans did so without that particular extraordinary protection.

> Therefore before 2005, banks that lent money for student loans did so without that particular extraordinary protection.

Most of the pre-2005 loans required a parental co-signer. And I know that I wasn't able to take out non-federal loans all by myself.

Yours is a true statement that doesn't contradict what I said. Namely that until 2005, banks were lending to students without protection from non-payment during bankruptcy.

In fact the fact that banks insisted on mitigating their risks with a co-signer is actually supporting evidence FOR what I said.