Reply to $100,000+ loan club

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Reply to "$100,000+ loan club"

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[quote=Anonymous][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.      [/quote]

I don't know.  I graduate college in 1989 when apparently it was possible to discharge student loan debt in bankruptcy... and I was in debt and a lot of my friends were in debt ... but I don't think that any of us had any thoughts whatsoever of declaring bankruptcy!   We just got jobs and started paying back our loans.

But there were jobs then.   And the loans weren't that big because college didn't cost so much![/quote]

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