FYI Student loans are federally guaranteed. The original lender does not loose money. If default occurs, the tax-payer pays them off. The debt is then sold by the government to credit collectors at a discount, who can seek the entire principle, plus interest, plus steep fees. So the typical defaulted student loan, if ever paid back, procures two to three times the original cost of school. Consequently, the student has no credit, so it is basically impossible for them to fully function in our highly debt-oriented society. This includes not being able to go back to school to finish their education if it not yet complete.

Meanwhile $200 billion is the cost of two-months in Iraq.