By Andrew Ross. Everyone is talking about student debt, but almost nothing is being done about it. On the federal level, there is no debt relief in sight, as anyone can infer from the annual Congressional ritual in which lawmakers assemble to grandstand over lowering federal interest rates by a fraction. Nothing on Capitol Hill comes closer to the cliché of putting a Band-Aid on a gaping wound. Rising rates of default (half a million more last year) and delinquencies (more than 30 percent of all borrowers) are a sure sign that many student debts cannot, and never will, be repaid. More...