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You can only laugh at the fact it was a schlepper Lawyer that ran up a $114,000 student loan getting his law degree (allowing it to grow with interest to over $200K ) and then deciding "Lawyer'ing ain't for him."
Per above interesting to those that made the loans at incredibly low rates (because they were guaranteed) they could not be discharged via bankruptcy.
So now all of a sudden some Judge determines those guaranteed low/no risk money in the bank can be washed away through bankruptcy..
Bottom line if this shit holds Student Loan interest rates will skyrocket because they will be questionable if they will be paid back. Unlike car loan, mortgage, electronics and credit cards there is nothing to repossess on a student loan.
 

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Bottom line if this shit holds Student Loan interest rates will skyrocket because they will be questionable if they will be paid back. Unlike car loan, mortgage, electronics and credit cards there is nothing to repossess on a student loan.
I think that is a wonderful thing. Think of how many kids going to universities that dont actually belong there wont be able to go due to sky high interest rates/payments. Think of how many kids wont be indoctrinated at these facilities. College in general needs a major overhaul.
 

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Student loans should be able to be bankrupted, just the same as anything else that can be bankrupted...Tax debts should be included as well...

Otherwise, NOTHING should be able to be bankrupted.
 

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Student loans should be able to be bankrupted, just the same as anything else that can be bankrupted...Tax debts should be included as well...

Otherwise, NOTHING should be able to be bankrupted.

I believe you might need to think some more on this one.
Everything in life is not offered as a yen/yang proposition.
 

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as part of the loan process, students should have to include something painfull, say 100 page binding document on how they will use the loan to to contribute back to society. If they can't or the loan processor calls bullshit and they are unable to counter...No fucking loan.
 

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I believe you might need to think some more on this one.
Everything in life is not offered as a yen/yang proposition.
What is there to think about? Why is it wrong to expect things to be equal? If a person has the legal right to file bankruptcy on ANYTHING, why shouldnt they have that ability on everything?

Look at taxes...If you owe the government back money, they charge penalties and interest, and they can go back indefinitely...If they owe you, after three years, they dont owe you anymore...How is that fair?

The student loan mess has been a huge fucking scam from the start...They hand out those loans like candy at a kids birthday party...Let them be bankrupted, and i'll bet money they clean the program up severely...
 

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Making student loans risky to the lender is a great step in solving the problem of overdue loans.

Like overnight solve.
 

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They should make student loan lending like buying a house. Your degree represents the appraisal. So, you cant borrow 200k if you want to teach high school history, become a coach, get a degree in literature etc. If your job WILL NOT provide the means to pay the loan off....lower your expenses or up your educational degree.
Granted this is a simple representation but the concept is sound.
 

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Well this will sure cause a landslide of similar cases
 

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Well, maybe one bright point is that some folks might start being more cautious about loans to students.
 

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Well if the welcher worked some years in a law firm as a lawyer, what did he do with the salary they paid him? Lawyers in a big firm in NY gotta be pulling in some serious bucks. Doesn't sound like he was seriously trying to pay off the loan from the start and probably blew his money on blow, dildos, hookers and stupid imported cars. Then the article shows a pictures of him as a fighter jet pilot and yet he was only in the service for 6 years and it probably takes 2 to 4 years to train him so they only got a couple of years out of him at millions in training - so he donked the armed services also.
 

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Another loser, sad to see it's a Squid Veteran :(, that wants to reap the benefit and pass the buck to the guy smarter & more successful than him!!!
He keeps all the rewards, and doesn't have to honor his promise!!!!


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I think that is a wonderful thing. Think of how many kids going to universities that dont actually belong there wont be able to go due to sky high interest rates/payments. Think of how many kids wont be indoctrinated at these facilities. College in general needs a major overhaul.
Good luck at that Gender studies/liberal arts degree! Fucking idiots.
 

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My daughter wanted to go to art school, and we did bring her to a couple to look around. We talked her out of the art school saying “you will probably come out of this owing 150k and still have your same waitress job you have now”
I feel a little bad about “crushing her dreams” but I think I may have saved her from a lot of debt and a worthless degree, but she’s still sad about it, which makes me sad too.

she is just taking generals around the local college now because she’s not sure what she wants to do, I told her to be an electrician ... she stares at me.🤪🤪
 
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