Student Loans. It Could Be Worse...$350,000 deep. Non-bankruptable.
source: http://www.startribune.com/local/west/50806777.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc...
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- runningfro
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If you are one of the nation's college graduates living with your parents, shackled with student loans -- between $20,000 and $80,000 --, and you're scare because you can't find a job in the poor economic climate.
Cheer up. It could be worse.
If you are one of the nation's college graduates living with your parents, shackled with student loans -- between $20,000 and $80,000 --, and you're not worried because you're banking on all of it to just go away. Run!
Fly away and disappear, because your student loans won't.
Mark Jesperson has $350,000 in student loans, and he must pay it all back.
The Eighth US Circuity Court of Appeals has ruled that he will have to pay back every cent.
Student loans are incredibly difficult to discharge, even if you're debt load is "shockingly immense". This is because a borrower must show "undue hardship", a higher burden than required to successfully declare bankruptcy for most consumer debt.
"The system's set up as such that most people -- people like myself -- cannot complete a professional degree without the help of student loans," said Mark Jesperson. "There's no starting over me....this is it."
Cheer up. It could be worse.
If you are one of the nation's college graduates living with your parents, shackled with student loans -- between $20,000 and $80,000 --, and you're not worried because you're banking on all of it to just go away. Run!
Fly away and disappear, because your student loans won't.
Mark Jesperson has $350,000 in student loans, and he must pay it all back.
The Eighth US Circuity Court of Appeals has ruled that he will have to pay back every cent.
Student loans are incredibly difficult to discharge, even if you're debt load is "shockingly immense". This is because a borrower must show "undue hardship", a higher burden than required to successfully declare bankruptcy for most consumer debt.
"The system's set up as such that most people -- people like myself -- cannot complete a professional degree without the help of student loans," said Mark Jesperson. "There's no starting over me....this is it."
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Ian_Monet
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Disgusting! Everytime Sallie Mae collectors call me, I wish I could just saddle them with my debt. . . then I realize they'll just get a bailout and still want my money.
- 2 years ago
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Ian_Monet
