How The Bush Administration Pointlessly Screwed Over Student Borrowers

How The Bush Administration Pointlessly Screwed Over Student Borrowers
ARLINGTON, TX - OCTOBER 15: Former U.S. President George W. Bush looks on during Game One of the ALCS during the 2010 MLB Playoffs between the New York Yankees and the Texas Rangers at Rangers Ballpark in Arlington on October 15, 2010 in Arlington, Texas. (Photo by Stephen Dunn/Getty Images)
ARLINGTON, TX - OCTOBER 15: Former U.S. President George W. Bush looks on during Game One of the ALCS during the 2010 MLB Playoffs between the New York Yankees and the Texas Rangers at Rangers Ballpark in Arlington on October 15, 2010 in Arlington, Texas. (Photo by Stephen Dunn/Getty Images)

There has never really been a good reason to bar Americans from discharging their student loans in bankruptcy. Back in the 1970s, a spate of newspaper stories claimed that unscrupulous college kids and law school grads were borrowing money from the government without planning to pay it back, knowing that they could just go to court and weasel out of their debts before they had any real assets to lose in the bargain. But, unsurprisingly, the reporting turned out to be mostly anecdotal trash that was later debunked in a study commissioned by Congress.

Didn't matter.

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