Student Loans and Bankruptcy

Instapundit » Blog Archive » HIGHER EDUCATION BUBBLE UPDATE: “Nearly half of the nation’s undergraduates show almost no gains in…

I don’t think the general public is quite aware of this yet… while declaring bankruptcy used to be an act of shame, it is so common now that people even think it’s the smart thing to do.

The problem with student loans is if you made an unwise decision and borrowed your way thru college, you’re stuck with that debt for life. You cannot file bankruptcy and walk away from a student loan.

I like Glenn Reynold’s summary statement:

…any other industry that encouraged its customers to go into debt like this would be characterized as predatory.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: