[ac29]

If student loans were dischargable in bankruptcy, why wouldn't everyone go through bankrupcy proceedings after graduation? If you finance education with debt, you're virtually guaranteed to graduate with a negative net worth, and no real tangible assets worth seizing.

Income-based repayment plans already exist, limiting your payments to 10% of discretionary income, with full forgiveness after 20-25 years if any balance remains. "Servicing that debt for the rest of your life" is not a thing.

[anonymous5133]

You could always have them bankrutable and have strong anti-fraud rules. But i think overall it is a bad idea. It is better to just have percentage income repayment rather than bankruptcy.

No doubt about it if student loans were bankruptable then it would be ripe with fraud.

[derekp7]

Student loans discharged through bankruptcy should also include repossession of your degree -- that is, make it criminal fraud to represent your degree to any employer upon bankruptcy.