If I understand OP&#x27;s point correctly, it&#x27;s that there is no bankruptcy protection whatsoever, even with a qualified co-signer. And maybe there should be. Further, if one does not qualify for government loans, banks are the only place to go, with lower interest rates being a moot point.<p>BTW I am very intrigued by your idea of having a school cosign for a student after the second year. If nothing else it would force schools to think twice about their acceptance habits. It seems to me to be more in line with academia&#x27;s not-for-profit interests, but I guess tuition dollars are too entrenched at this stage?