&gt; &quot;I really don&#x27;t want to follow through on what I agreed to&quot;<p>Another commenter points out that this is a business contract, not a morally codified vow.<p>However, even if you want to assess the moral implications of the agreement, and the matter of whether to renege is justifiable, remember that the students who took these loans weren&#x27;t fully informed of the circumstances that lead to their issue.<p>A college education was presented as a smart choice whose free market value had risen as the result of insatiable demand.  However, we now know that public colleges - arms of the governments of which these students are constituents, colluded with private lenders to increase fund availability and force tuition prices up.<p>If the entirety of the deliberations between these groups had been known, as is proper in matters of public policy, students might well have made a different choice.