And the punchline of the joke is that student debt can't be discharged in bankruptcy. If Ford sells me a defective car that I paid $40,000 for, I can sue them. If they sell a hundred thousand defective cars, the federal government can sue them. Somehow, a defective education affects only the mark, and not the grifter.

Few things make me as angry as this. Oh, you went a non-profit for a degree that means it's hard as hell to get a job because many markets are hard to break into and can't afford to live above the poverty line? Fuck you, no way out of this one. Same deal with for-profit, those might be even worse considering just how much exploitation is going on. I wasn't aware that Davenport was for-profit and and according to a quick google search/wikipedia it says it's a private non-profit?

The step Obama is taking is likely a good one, but it doesn't change the fact that my generation is still completely screwed immediately out of college unless you lived at home with a job for two years or by some miracle got a full-ride.