[quote=patb]we may still be better off letting them discharge this debt.
we let corporations discharge debt in Chapter 11 and businesses are utterly ruthless, why do we put the dog on people who marry, have kids, etc..
If there is fraud, go after them, but, the system is awash in debt, that has to end.[/quote]
I am completely against this. I know several people (early gen-x-ers and boomers) who have deliberately taken out $65K to $120K in student loans AFTER the age of 45. I have NO IDEA who any of them think would hire them in this day and age after they obtained their lofty credentials. In all cases, this was an utterly foolish idea, IMHO.
At any age, it is grossly unfair to those who kept their noses clean and only paid for the education their could afford in life. IOW, their “contemporaries” (who elected NOT to borrow for college) shouldn’t be “outgunned” in the job market by those who successfully “stole” a bachelor’s degree or even graduate degree!
A college “degree” is not something which can be repossessed. There is no collateral here. The benefits of a degree follow the former student until their deaths. Just like a personal injury award (a condition that follows the individual who sustained the injury until their death), the injury award/college debt legally belongs SOLELY to the affected person.
