re: At least half of students defaulted or failed to pay down debt within 7 years

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Always wondered how the statue of limitations worked for the defaulters - after 7 years is all forgiven?

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Student loan debt is not dischargeable. I think that became law under Clinton or GWB, I can't remember.

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That's pretty funny.

Always wondered how the statue of limitations worked for the defaulters - after 7 years is all forgiven?

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FedGov forget a debt? You should attend YogaGirl's psych eval too

Seriously though. Nope nope nope nope nope. Government Insured student loans (GSL) NEVER go away. There is no SOL on that debt. They start with letters, then add phone calls, then add legal warnings, then capture any/all tax refunds, then go after job earnings, then assets... They will not ever give up until debtor is dead and estate is determined to be all gone.

The FedGov is also not bound to only 25% wage garnishment. I knew of a couple in Nebraska being allowed $50/month total, no other cash, assets were allowed. They were about dead since they had chronic medical conditions too. FedGov has less cares than honey badger!