I have figured out an easy solution for those who are complaining that they are unable to pay off their student loans. Simply forgiving the debt would be unfair to those who have either already paid theirs off, those who worked to earn scholarships, or anyone who was fortunate enough to be able to afford tuition without borrowing. 

We should institute a “Diploma Refund Program.” It would be pretty simple, people could return their degree in exchange for a refund. you would turn in your diploma to the school it was received from in exchange for a tuition refund. As part of this, you would not be able to list it on a resume, application, etc., and any participating school would be obliged to tell HR verification agents that you do not hold a degree from their school. Simple

There are still some details to work out. For example, only tuition and credit fees would be refundable.  Room and board, meal plans, activity fees, etc., are services that were rendered during that time period, and are non-refundable. Books, school supplies, equipment, and other goods purchased are also non-refundable and can be sold for their current market value elsewhere and are not the responsibility of the school. 

 As to explaining a four year gap in your resume, you can tell potential employers that you were surveying college courses. Or spent 4 years at camp if you want, it will probably be the same to them. 

Now, as to the interest accrued on the loan, processing fees and the like are between you and the lender. Perhaps just letting it go to collections will get you a new piece of paper. Consider that to be a free “Certificate of Accomplishment in Personal Choices.”

Jim Says: “Too bad nobody told you that degree in 17th Century Feminist Literature would end up being useless in the modern job market, huh?”