No, moral is to make student loans subject to regular bankrupcy. Student should be also able to get refound, if university misrepresents or lies about their job prospects!

Universities are business as any other!

That would be a reform I'd get behind.

At the same time, it's still a bad use of funds, and lenders likely wouldn't have the ability to discriminate based on likelihood of bankruptcy or success in an academic program. So it just shifts costs from the student unlikely to succeed to the lender and students likely to succeed.