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Where are you getting this information from? Because nothing I am able to see points to people discharging their loans happening on a massive scale. The only "

Where are you getting this information from? Because nothing I am able to see points to people discharging their loans happening on a massive scale. The only "news article" [1] I can find that references this mentions 0.3% of student loans were discharged through bankruptcy in 1977 [2]. [1] https://www.linkedin.com/pulse/history-student-loans-bankruptcy-discharge-steven-palmer https://www.linkedin.com/pulse/history-student-loans-bankrup... [2] http://harvardlawreview.org/wp-content/uploads/pdfs/vol126_student_loan_exceptionalism.pdf http://harvardlawreview.org/wp-content/uploads/pdfs/vol126_s... Seems be to be some serious revisionist history going on...

reaperducer 8y ago
Seems be to be some serious revisionist history going on... Just because it’s not a link on the internet doesn’t mean it isn’t true. It was pretty much common knowledge when I was in school. I only knew a few pre-meds, but it certainly came up as a discussion topic more than once.
- SketchySeaBeast 8y ago
  Just because someone talked about potentially doing it doesn't mean it's true either. If it was three quarters of all 20 year old's would have quit school and worked on their band full time.
- Bjartr 8y ago
  And just because something is common knowledge doesn't mean it's true, especially when you start taking about common knowledge within a group. You don't have to link to a source on the internet either, citing a book or newspaper article would be sufficient.
st26 8y ago
Purely anecdotal, but I have a friend who went to veterinary school. The school had a literal class teaching all vet students to use IBR forgiveness to get their debt discharged. It's not quite as abusive as what could have happened when student loans were dischargeable in bankruptcy- it takes 20 years and you're taxed on the forgiveness- but I thought it was quite perverse that the institution charging towering sums of money is teaching the students in blanket fashion how to avoid paying it off.
- deleted 8y ago
  [deleted]
ameister14 8y ago
>The only "news article" [1] I can find that references this mentions 0.3% of student loans were discharged through bankruptcy in 1977 [2]. It actually says something much stronger - it says that 0.3% of the value of all federal student loans given before 1977 had been discharged through bankruptcy, not in 1977. In 1977 wouldn't make sense because the amendments making it impossible to discharge student loan debt through bankruptcy were made in 1976.
bitL 8y ago
Some time ago I was dating an American med student - filing bankruptcy was basically her plan once she is done with studies and residence. She mentioned it's fine to take a hit for ~7 years as she won't be earning much during that time period, and then it should pick up quickly.
- ameister14 8y ago
  It's been effectively impossible to do that since 1976, so while that may have been her plan, I'm not certain she would have been able to follow through.

reaperducer 8y ago

Seems be to be some serious revisionist history going on... Just because it’s not a link on the internet doesn’t mean it isn’t true. It was pretty much common knowledge when I was in school. I only knew a few pre-meds, but it certainly came up as a discussion topic more than once.

SketchySeaBeast 8y ago
Just because someone talked about potentially doing it doesn't mean it's true either. If it was three quarters of all 20 year old's would have quit school and worked on their band full time.
Bjartr 8y ago
And just because something is common knowledge doesn't mean it's true, especially when you start taking about common knowledge within a group. You don't have to link to a source on the internet either, citing a book or newspaper article would be sufficient.

st26 8y ago

Purely anecdotal, but I have a friend who went to veterinary school. The school had a literal class teaching all vet students to use IBR forgiveness to get their debt discharged. It's not quite as abusive as what could have happened when student loans were dischargeable in bankruptcy- it takes 20 years and you're taxed on the forgiveness- but I thought it was quite perverse that the institution charging towering sums of money is teaching the students in blanket fashion how to avoid paying it off.

deleted 8y ago
[deleted]

ameister14 8y ago

>The only "news article" [1] I can find that references this mentions 0.3% of student loans were discharged through bankruptcy in 1977 [2]. It actually says something much stronger - it says that 0.3% of the value of all federal student loans given before 1977 had been discharged through bankruptcy, not in 1977. In 1977 wouldn't make sense because the amendments making it impossible to discharge student loan debt through bankruptcy were made in 1976.

bitL 8y ago

Some time ago I was dating an American med student - filing bankruptcy was basically her plan once she is done with studies and residence. She mentioned it's fine to take a hit for ~7 years as she won't be earning much during that time period, and then it should pick up quickly.

ameister14 8y ago
It's been effectively impossible to do that since 1976, so while that may have been her plan, I'm not certain she would have been able to follow through.