Re: Stupid Student Loan

Posted by LadynRed (199.91.33.254) on February 13, 2003 at 09:33:40:

In Reply to: Stupid Student Loan posted by EducationAndPunishment on February 13, 2003 at 04:54:22:

Student loans generally cannot be discharged thru bankruptcy - UNLESS you can meet certain hardship criteria, then you MIGHT have a chance.

There is NO statute of limitations on student loans, sorry. The gov't loaned you money, you got the benefit of an education with it and they expect to be paid back. There's nothing strange or unfair about this. Before they changed the laws, the default rate on student loans was massive, people were simply ignoring their obligation to pay it back. So, they changed the laws and made it so, at some point, in some way, you are going to HAVE to pay back the money you were lent. Where do you think this money comes from ?? It comes out of TAX dollars - you think this is a gift ?? You've got it good in the US, its not quite so easy to get a higher education in other countries !

What's this about filing for BK in 1997 ? What has that got to do with anything ?

Have you tried to find out if you can REHAB the loan ?

The gov't can and will collect. If you can't REHAB the loan, they'll get a judgment and TAKE it from you - they'll garnish your wages and take your Federal tax refunds until they are paid.

There IS NO FREE RIDE.. step up to your responsibility and pay back the money you borrowed from millions of taxpayers.

As for 'money and nothing else' .. HELLO, this is a capitalistic country .. what else IS there ??? Maybe you should have taken some Economics courses in school.......

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