One of the cruelest aspect about it is that even though they do next-to-no research to qualify you for a loan, they'll let you borrow tens of thousands of dollars. That's crazy! You can't even get a junker car without having them run a credit check.
The reason they do this is because there's an exception for students loans, bankruptcy doesn't cancel them out! All those other loans can be cancelled out by filing bankruptcy, but the ones given to unqualified, un-vetted young people are the ones that don't get cancelled by it. It's a system that's built to keep people in bondage to that debt. It's wrong.