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Change bankruptcy law so student debt is discharge. Don’t let government back loans. Lenders will only lend to people have a decent chance of paying it back.

Change bankruptcy law so student debt is discharge. Don’t let government back loans. Lenders will only lend to people have a decent chance of paying it back. So no more nonsense degrees unless your rich. Colleges have grown fat on easy money. This will slim them up again

underseacables 6y ago
I think everyone who has taken a loan out should pay SOMETHING - a settlement sum perhaps, based on their last year tax return. IE. The government will forgive 80% of your loan, but you must pay the remaining 20% on an affordable, no interest payment plan. Failure to pay that your only option is to declare bankruptcy and have it discharged. I have a real problem with anyone getting off totally free.
- treeman79 6y ago
  Variations of bankruptcies require paying. If have some income it tends to be a sliding scale. Chapter 13. You have to be very broke to get everything wiped off. Chapter 7
- indymike 6y ago
  This is how bankruptcy works.
bwb 6y ago
They could also just move all college loans to Fed interest rates of near 0%.