Bloomberg / Obama administration hits back at student debtors seeking relief

[Lesley]

http://www.bloomberg.com/news/artic...n-hits-back-at-student-debtors-seeking-relief

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[DrMidlife]

this guy's kids need to effing pony up.

 

[PharMed2016]

Someone told me they would file for bankruptcy to erase their debt... until I told them, it is death does debt part for student loans.

 

[RangerBob]

It is technically possible to discharge your student debt in bankruptcy (well, special petition actually)--but it's almost impossible. People that become paralyzed (tetraplegic--if you're just paraplegic I doubt you can get anything forgiven) often still run into a lot of hurdles. If you're employable, you're unlikely to get anything forgiven, and their minds are still intact. Even when these borrowers do get their loans forgiven, it usually involves use of lawyers, a lot of time (years), and also a big bill from the IRS (they tax you on the amount that's forgiven, which is terrible since as mentioned before, you have to be very disabled with no hope of ever repaying those loans to even get the forgiveness in the first place).

 

[Perrotfish]

nvm

 

[deleted716403]

Student debt has reached the most ridiculous point...

 

[enien]

What would be great would be a system similar to what Quebec has implemented.