How Are the Kids? Unemployed, Underwater, and Sinking

Re:How Are the Kids? Unemployed, Underwater, and Sinking by patrickgzill on Sunday November 21, 2010 @10:42PM (#1928641)

Student loans are not able to be discharged in bankruptcy, is that right? Assuming so, what will be the likely result if the current situation keeps up for say 5 years - no job means no payments on the student loans, and at even a low rate of interest, not making payments on the loan for 5 years will greatly increase the amount due.

Some amount of defaults/resetting will be likely - the question is, who will take the haircut when the loans are not repaid?

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Re:How Are the Kids? Unemployed, Underwater, and Sinking by jon_hendry on Monday November 22, 2010 @08:09AM (#1929635)

The government, because't the loans are likely underwritten by the government.

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Re:How Are the Kids? Unemployed, Underwater, and Sinking by pzxc on Monday November 22, 2010 @09:51AM (#1929933)

You mean the citizens, because the government doesn't have any money of its own.

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