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I've been curious if you could pay off student loans using a credit card. Then declare bankruptcy.

• abalashov 9y ago
  I am not sure what the upper bound on consumer credit card limits is, particularly on credit cards issued to college kids or recent graduates. However, I gather anecdotally that it's somewhere in the low-mid five figures, which isn't the kind of stratospheric, crippling student loan debt that this discussion implicitly has in mind. Moreover, to get something like a $20k-$30k credit limit as an 18-24 year-old, you almost certainly need a parent to cosign, as you yourself would not have sufficiently long credit or positive income history. That in turn means they'd be on the hook for the debt in the event of your bankruptcy, and/or your bankruptcy would impact them as well. If there were an easy way to transfer large non-dischargeable balances into dischargeable form, everyone would be doing it. :-)