Monday, January 24, 2011

Student Loan Defaults

$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


K said...

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.

Tyrone said...

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.