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Actually it's the Federal Government who is ultimately backing these student loans, and it is the Federal Government that made student debt non-dischargeable i
by pauldenton 3y ago
Actually it's the Federal Government who is ultimately backing these student loans, and it is the Federal Government that made student debt non-dischargeable in bankruptcy.
The best way to deal with it would put colleges on the hook for it. If a student declares bankruptcy their student debt is gone, and the college using their massive endowments can eat it.
- ClumsyPilot 3y ago> student debt non-dischargeable in bankruptcy. Debt bondage, also known as debt slavery, bonded labour, or peonage, is the pledge of a person's services as security for the repayment for a debt or other obligation. Where the terms of the repayment are not clearly or reasonably stated, or where the debt is excessively large the person who holds the debt has thus some control over the laborer, whose freedom depends on the undefined or excessive debt repayment.