|
|
|
|
|
|
by mywittyname
3682 days ago
|
|
|
Actually, the government guarantees the loans on behalf of the student. So if the student fails to pay, then the government will foot the bill. The reason bankruptcy doesn't apply to student loans anymore is because a bunch of a-holes in the 70s started getting massive loans for their graduate degrees and immediately declaring bankruptcy after graduation (but before getting a job). |
|
|
So what are the conditions in which the guarantor will be required to take ownership of the loan? Death? Anything else?