Re:The Student Debt Problem Is Worse Than We Imagined
by cmurf on Sunday August 26, 2018 @12:40PM
(#17846628)
The Iceland solution, yes. Different scale of course, but also not nearly as bad for the world or Iceland as the bankers and investors who lost their shirts would have had everyone believe.
My big beef is that Bush 2 and Congressional Republicans saw this coming, and in 2005 changed bankruptcy law severely curtailing, specifically students, from declaring bankruptcy.
"2005 bankruptcy reform bill making private student loans nondischargeable"
"Many debtors will have to work out repayment plans instead of having their obligations erased in bankruptcy court under the law"
It's a much higher bar for a student to successfully claim hardship than other debtors as a result.
My big beef is that Bush 2 and Congressional Republicans saw this coming, and in 2005 changed bankruptcy law severely curtailing, specifically students, from declaring bankruptcy.
"2005 bankruptcy reform bill making private student loans nondischargeable"
"Many debtors will have to work out repayment plans instead of having their obligations erased in bankruptcy court under the law"
It's a much higher bar for a student to successfully claim hardship than other debtors as a result.
http://www.nbcnews.com/id/7575010/ns/business-personal_finan...
http://www.slate.com/blogs/moneybox/2015/04/16/student_loans...