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Money and Finances
Reply to "$100,000+ loan club"
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[quote=Anonymous]Snarky poster here. Part of the reason that it can't be discharged is that virtually every college student, at the time of graduation, would qualify for bankruptcy protection and the ability to discharge student loans. I certainly would have. And a credit hit would be a very small disincentive, at age 22, to bankruptcy. Is it moral and honest? No, but getting rid of a huge debt to start your life is a powerful incentive. Hell, students likely would delay getting a job just to take advantage of bankruptcy protection. I agree the underlying problem is the runaway cost of higher education. As the parent of a pre-schooler, I can only hope that the problem is addressed in the next 15 years. Otherwise, at the current rate of increase, a bachelor's degree will cost well over a million dollars when my daughter goes. [/quote]
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