$58B in default
7% default rate
And, as he states, "you can't get rid of a student loan debt in a bankruptcy proceeding".
Enslaved youth of america.
Video #2: Ninja Generation & Student Loan Debt
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2 comments:
Cry me a river.
Bankruptcy only has teeth if your credit rating over the next 5 to 10 years means something to you. Coming out of school the vast majority of students have no incentive not to go that route and dump their loans. 3 guesses who would get to pick up the tab for that.
K,
There is one thing you should know about student loans... they are not always discharged in a bankruptcy. They can go after you for years. Enslaved.
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