[medhir]

I have never understood why student loan debt is the only debt that cannot be discharged in bankruptcy proceedings.

It’s so insane that we expect 18 year olds, with brains still very much developing, to be able to make such a life-altering choice. Even though I myself understood this dynamic and decided to go to a state school with max 5k a year in tuition, I’ve never faulted others in the same situation that made less than ideal financial choices.

It’s really tragic that the US chooses to economically hamper so many people for money that is fairly inconsequential in the grand scheme of things. Everyone deserves a chance at upward economic mobility, even if they made a bad choice to study something in college with bad job prospects at a high price tag.

[mixmastamyk]

The loans would never be made under normal circumstances, so the govt. guarantees them. Part of that deal is that they must be paid back. Fair enough.

I agree that the whole system is poor, but not because the loans have to be paid back. A better system would be to take the money and instead build subsidized public colleges. Loans just fuel cost inflation, exactly as we've seen.

[polski-g]

It's not dischargeable because you can't seize the asset to resell in bankruptcy. The borrower would still retain the knowledge and connections