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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
Of course I'm not going to declare bankruptcy. For one, student loans are not dischargeable in bankruptcy. Second, I have no other financial problems other than a huge student loan balance. [b]I will say that if I could jettison my student loans in bankruptcy I would totally do it and restart my financial life from zero[/b].[/quote]

And that is why the government doesn't allow this. Everyone who just graduated from college/grad school with no assets would simply declare bankruptcy. They'd have nothing to lose. It would be unsustainable, which is why the government can't afford to change this rule.

I personallly think public service loan forgiveness should be for state schools only and repayment capped at a reasonable amount. You made a lot of bad decisions OP.[/quote]

Capping student loan forgiveness or making me personally responsible for the huge amount of student loans really won't solve any problems. Obviously mine aren't going to be paid back and I actually do have a HHI of $220k. However, law school tuitions have actually gone up since I left and the schools are not hurting for applicants. For example: https://www.dnj.com/story/news/local/schools/mtsu/2018/10/18/mtsu-valparaiso-law-school-denied-add-no-value-tennessee-memphis-oppose/1673571002/

In that article, a law school with a less than stellar reputation tried to talk a state college in "Middle Tennessee" to move the law school on their campus. Consultants found that taking on the law school would produce ZERO value for the citizens of Tennessee and declined to take it on yet the newspaper quoted several low-income students complaining about how they were all set on going to that law school to make the big bucks. Do you think those kids would pay back $300k student loans? Do you think those kids have a grasp on student loan forgiveness or even what $50k/semester tuition even means? I guarantee the law school would allow them to take on that debt with nothing more than an electronic signature and would happily distribute the government cheese to their bottom tier faculty, admin, and well stocked law library. I hope a lot of you remember my thread when the national student loan debt surpasses $5 trillion and the next person posts about their $900k student loans.[/quote]

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