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re: At least half of students defaulted or failed to pay down debt within 7 years
Posted on 2/22/17 at 12:21 pm to rocket31
Posted on 2/22/17 at 12:21 pm to rocket31
quote:
Always wondered how the statue of limitations worked for the defaulters - after 7 years is all forgiven?
Student loan debt is not dischargeable. I think that became law under Clinton or GWB, I can't remember.
2
Posted on 2/22/17 at 12:24 pm to HempHead
Oh. Why do I always here about 7 year thing?
Must be redditor delusion
Must be redditor delusion
Posted on 2/22/17 at 12:33 pm to HempHead
quote:
Student loan debt is not dischargeable. I think that became law under Clinton or GWB, I can't remember.
The risk associated with letting students discharge debt would make it prohibitively expensive to offer the loans. That wouldn't be a bad thing, but it just highlights how poor the system is setup.
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