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A comment on The Money Letter That Every Parent Should Write. Parent comment

Re:The Money Letter That Every Parent Should Write by SolaceQuantum on Saturday June 18, 2016 @07:21PM (#11931083)
As far as I understand, it is very difficult to clear student loan debt via bankruptcy.
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Re:The Money Letter That Every Parent Should Write by Clubber on Saturday June 18, 2016 @07:47PM (#11931147)
It is. People came up with the same plan. I believe it was popular with lawyers, but I could be mistaken.

Get your degree, file for bankruptcy. Since they can't take your degree away and you have no collateral, there wasn't much they could do.

The inability to relieve debt through bankruptcy is a result of that scam.

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Re:The Money Letter That Every Parent Should Write by lawpoop on Saturday June 18, 2016 @09:44PM (#11931487)
Yes, it was doctors and lawyers. Get out of school, declare banktupcy on $100+k of debt (abnormal at the time except for those degrees) and then in 7 years, start over with all the money you saved as a Junior doctor/lawyer.
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Re:The Money Letter That Every Parent Should Write by guroot on Saturday June 18, 2016 @07:45PM (#11931142)
I think the parent meant bankruptcy as in not having any money for anything in your college years.

You are correct Student loan debt can not be discharged in bankruptcy.

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