With the way standard banks work, they actually only loan you about 10% of the amount they have loaned the student. This being said, the bank itself does not suffer any real big loss in this situation.
We also should not condemn our scholars to a life in the streets simply for wanting a good education and a prestigious job. These people are our future, condemning them would mean condemning our future.
All in all, student loans should be forgiven in the event of a bankruptcy. They, however, should have it kept on record that the loan was never paid and the applicant filled for bankruptcy. This way, the bank doesn't open itself up to a loophole where students could escape their loans simply by filling a bankruptcy and the student gets a break.
Yes, if someone files for bankruptcy, their student loans should be forgiven. Obviously, the person is broke. They can't handle their expenses. Why would everything else be written off but not their student loans? That's possibly the biggest burden they carry, perhaps the very reason for the bankruptcy. Bankruptcy is hard. Whoever goes through it should be able to start their financial life over, with a clean slate.
I don't believe any debt should be forgiven through a bankruptcy. You entered a contract that you need to repay. Bankruptcy is an easy way out. Even with student loans, their are not gains for the company to retrieve. If you file bankruptcy and you student loans are not paid, I believe your diploma should be taken away.