Top Pro & Con Arguments


Student loan debt may not be forgiven in bankruptcy and may not have the same borrower protections as other consumer debt.

A study found 60% of people attempting to discharge student loan debt in bankruptcy were unsuccessful. [70] Medical, legal, credit card, loan, and even gambling debt can immediately be discharged in bankruptcy, but getting student loan debt discharged is much more difficult and rare. [71] Private student loans often do not have the same protections as federal loans like income-based repayments, discharges upon death, or military deferments. [61]

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