>The US has relatively generous bankruptcy laws. Many people go through bankruptcy and rebuild their credit over several years.

Not for student loans.

https://bostonstudentloanlawyer.com/the-death-and-bankruptcy...

    Like federal student loans, private student loans typically cannot be discharged in bankruptcy (although it is not impossible).
    ...
    Many (although not all) private student loans have this tiny little clause, often hidden away in the obscure depths of the promissory note (the loan contract that you signed, but probably didn’t read, when you first got the loan). The clause basically says the following (and I’m paraphrasing here): If the co-signer or the borrower dies or declares bankruptcy, the entire balance of the loan will be come due immediately.