Reply to Financially hobbled for life- elite masters degree that don’t pay off

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Situation is just sad all around.

I would have anxiety knowing I owed $300,000, can never file for bankruptcy and make under 40k a year.

My god.[/quote]

There's lawyers who advertise bankruptcy including the student loans.[/quote]

Student loans are not discharged in bankruptcy [/quote]

[quote]
But when it comes to trying to get their student debt forgiven, "more than 99% of the student loan debtors in bankruptcy just give up without even trying," Iuliano says. "It struck me as a really surprising statistic when I first uncovered it."

For those who do try, though, Iuliano's research finds that about half the time the person gets some or all of the student loan debt erased. One study he did found that they got help through bankruptcy about 40% of the time. And he says more recent data from this past year show that figure rising to more than 50% of the time.

"So I think that's really important for bankruptcy attorneys to see that there are judges out there who are willing to grant undue-hardship discharges and that people are much more likely to obtain relief in bankruptcy for their student loan debt," Iuliano says.
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https://www.npr.org/2020/01/22/797330613/myth-busted-turns-out-bankruptcy-can-wipe-out-student-loan-debt-after-all[/quote]

NP and it's probably because the bankruptcy lawyers in those 99% of cases know they would not satisfy the prongs of the Brunner test and therefore they do not try to have them discharged.  That law professor is presenting this in an incredibly irresponsible way to suggest that if people only tried they could discharge their student loans in bankruptcy.  The Brunner test is an extremely difficult test to satisfy to get a discharge of student loans.  Whether the standard should be so strict is a different issue but as it stands it is very difficult/nearly impossible to get student loans discharged.[/quote]

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