why is this important?....because the freaking schools and banks would stop lending to every tom, dick, and harry who thinks they can go to college to party....
only serious students and only serious subjects....
>>why isn’t student loan debt bankruptable?<<
Government debt is usually not subject to bankruptcy — else everyone would BK on their taxes and the government would have no funding at all.
If kids knew they could BK their way out of student loan debt then that would be their plan (as I said, it was my nephew’s plan anyway).
How can you objectively gauge a 17-YO’s ability to pay. They are ALL Tom, Dick and Harrys. And don’t ask the parents ot get involved — I was financially independent at 17.
And I paid my loans back but mostly made it through school via scholarships (I am a pretty good test taker).