Just how old do you think I am? 22? Oh, I wish that were so. Here’s a hint. When I was born, there were still 48 stars on Old Glory (albeit not for much longer)! Can you say the same? And I’m doing quite well, thanks. Been out of college for many many years (debts paid off long ago), got the 4 bedroom house, kids in collge, a lawn to mow, the whole deal. So cool it with the patronizing tone, OK, pops. And, by the way, bankruptcy does NOT equal forgiveness. Even in bankruptcy, you still have to pay a certain amount off to your creditors. Better some cents on the dollar than nothing at all. And the only debts (other than student loans) non-dischargable in bankruptcy are willful torts (i.e. judgment occured as the result of a crime or other purposeful act), debts incurred as a result of fraud, and debts incurred AFTER bankruptcy. There are sound public policy reasons for those, but none for student loan non-dischargability. Hope this helps clear things up. Glad I could help. : )
There are plenty of sound public policy reasons for student loan non-dischargability in bankruptcy court.