Hacker News new | ask | show | jobs
by HCIdivision17 5065 days ago
While I certainly don't think college debt is quite indentured servitude (you certainly can leave work while still in debt), it's worth noting that US bankruptcy laws are specifically not generous with student loan debt. It's very rare to have it forgiven. Worse, if the loans have a cosigner, the debt can continue to harass them, and they'll typically be a family member.

Of course, it's not going to follow for generations, so you're right about the situation being substantially better than indentured servitude. But the metaphor isn't too far off the mark if its context is toned down a bit.

1 comments

To say that it's the same is to say that any debt is indentured servitude.

Prisons making you borrow money would be indentured servitude. College loans is taking a loan.

There could be a case made for credit cards being indentured servitude, due to their unreasonably high interest rate and the fact that they entrap you by just issuing them. Far more so than college loans.

Credit card debt is dischargeable.