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.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. Private student loans often do not have the same protections as federal loans like income-based repayments, discharges upon death, or military deferments. Read More