> You're either screwing over taxpayers by making them pay back the loans
The original lenders sold the loans, which largely ended up in Navient. Why? Because the loans were tied to high risk borrowers and the loans were a liabilty related to schools committing fraud. Navient likes low income/high risk loans. Part of the Navient business model is to rely on individuals who dont know any better or cant afford counsel. Navient will be happy to allow a borrowerto to pay anything (you can haggle down to 5$ a month) in perpetuity.
I know this is a little complicated for you to understand, but nullifying improper loans doesnt cost taxpayers (Navient) anything. Buyers take a risk when purchasong bulk loans. Are you too young to remember 2007? Risk is priced in and if you want to be irresponsible, thats a voluntary risk. Any borrower can bankrupt out of these kinds of loan at anytime, so the ability to discharge, has always been available...again, Navient preys on low income borrowers who are unlikely to retain a bankruptcy lawyer. They get really aggresive with the family if the borrower dies.
I dont think you have the slightest idea of what is going on, or why. It is frightening to imagine you voting. Assuming that lenders involved in fraud should be entitled to poisoned gains, is immoral in the most childish of ways. ie Finders keepers losers weepers, is not a stable economic model.