Although much of "education" provided by colleges and universities is useless, I think you're off the mark.If the students can’t pay back, it should fall on the schools, they should be legally required to pay it back. Otherwise, their screening and education services obviously aren’t effective enough if the person can’t pay it back.
The idea that you actually know something about anything at 17 when you “sign up” is just mind boggling. Even when they say they know…they really don’t know. You just can’t at that age.
For this particular issue, banks should pay because they have charged inordinate interest. Corporations should pay because they provide little of service, charge outrageous fees, and have moved virtually all jobs offshore.