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The Bush 43 bankruptcy reform act made student loans impossible to escape via bankruptcy. As Peter Thiel said in his recent speech: > "There is the fraud of un
by AlchemistCamp 7y ago
The Bush 43 bankruptcy reform act made student loans impossible to escape via bankruptcy. As Peter Thiel said in his recent speech:
> "There is the fraud of university education. Student loan debt is not dischargable in bankruptcy. The government can garnish your Social Security payments when you’re 65 to pay off your student loans."
source: https://medium.com/@bonniekavoussi/notes-from-peter-thiels-speech-at-the-national-conservatism-conference-on-july-14-2019-6a51b26b202 https://medium.com/@bonniekavoussi/notes-from-peter-thiels-s...
- howard941 7y agoI've counseled many parents who'd guaranteed their kid's loans only to have their own SS garnished when the kid couldn't pay. It's a shitty system.