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You can definitely default on student loans; plenty of people are. You just can't get them discharged in bankruptcy.
by zaccus 11y ago
You can definitely default on student loans; plenty of people are. You just can't get them discharged in bankruptcy.
- StillBored 11y agoI was trying to differentiate default on a student loan from defaults on pretty much everything else. I'm not sure your credit card company can block a professional license or garnish your wages. Plus, as I understand it, its pretty common for bankruptcy judges to adjust the principal, or remove fees/unpaid interest from other forms of defaulted debt, when the debt isn't directly discharged. This is apparently really rare for student loans.