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Again, worth noting: there is no risk to the taxpayers for the balance of your loan. You cannot discharge student loans through bankruptcy, and the government c
by namecast 11y ago
Again, worth noting: there is no risk to the taxpayers for the balance of your loan. You cannot discharge student loans through bankruptcy, and the government can garnish your wages, tax refunds, and social security to repay them.
- deleted 11y ago[deleted]
- namecast 11y agoYeah... no. Sorry, but please read what I wrote again. "An extremely small number of people under the proper set of circumstances may potentially benefit from income contingent plans, and then be forgiven after 25 years", is simply not a rational response.
- deleted 11y ago[deleted]
- cesarb 11y agoBut you can still discharge them through death, can't you? So there's still risk of non-repayment, if the borrower stays poor until his/her death.
- roel_v 11y agoThe balance of the loan is different from what you (as a lender) have to put the loan on the books for. Even if there is no way to legally discharge it, if it's unlikely that the loan will be paid back (or part of it), you have to value it for the amount you expect to receive.