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Why can't student loans be discharged in bankruptcy?
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Why can't student loans be discharged in bankruptcy?
business & finance
asked
Sep 22, 2022
by
Timothy Redfern
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It's the way the laws were written - the assumption is that if you went to college, you should make enough money to pay those loans back. If they allowed bankruptcy, I'm sure that 40%+ would file, since they'd have no money right out of school.
answered
Sep 23, 2022
by
Grace Ruadhain
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Sep 27, 2022
by
Timothy Redfern
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You use to could file them but Ronld Regan former president changed the law that made us have to pay them back and they couldn't be filed in bankruptcy.
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Sep 24, 2022
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Patrick Geiger
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You answered your own question. If the government can make a provision where you have to pay them back regardless of bankruptcy why wouldn't they? I've heard stories (unsure how true) that decades ago kids would finance their whole education w/student loans then file bankruptcy (back when you could file bankruptcy on student loans). Now the man fixed that loophole. I don't believe that any student loan is dischargeable, regardless of government or non-government.
answered
Sep 25, 2022
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Terry Mohan
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