[zdragnar]

Loans originating in the US for education are generally not discharged in bankruptcy. Not paying them is a good way to get your wages garnished or worse. I have no idea what recourse there might be from a loan through Singapore.

That being said, discharging debt in bankruptcy will haunt your credit for 7 years, or so I've heard. Being forced to not finance anything for 7 years is a decent way to save money if you've got a good paying job, I suppose, as you don't fall into the trap of only looking at the monthly payment without thinking of the total cost.