On September 16, 2013, Yahoo! News reports the need of let the “student debtors” to declare bankruptcy.  To read the whole article, please click here.  Several reasons were cited below as written toward the end of the article.  What do you guys think?

Quote from the article:

According to demographer Cheryl Russell of New Strategist Publications, “debt, coupled with double-digit unemployment, has hobbled millions of young adults who would have bought homes, married, had children and feathered their nests with all the middle-class goodies that keep our economy humming.”

“Rising student debt has been eating into the housing and auto markets,” wrote Brad Plumer inThe Washington Post in April, while many argue that letting students overburdened by student loans go bankrupt would actually invigorate the overall economy.

“This entire system must be overhauled,” wrote Salon contributor David Dayen. “Otherwise, it will continue to damage our economy by indenturing talented students, our greatest renewableresource.”