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http://www.nytimes.com/2008/08/24/business/24loans.html?em=&pagewanted=all
Much of the content of this article regulars on this board already know, such as the extra-special legal status that all student loans have, such that they can only be discharged in bankruptcy if forcing the borrower to pay would cause "undue hardship."
...can get out of student loans only if they can show “undue hardship.” That term is not defined by the bankruptcy code and, lawyers said, judges often take a narrow view of its meaning.
“The cases are so harsh in measuring what an undue hardship is that anybody who is working and maintaining any kind of home life has very little chance of discharging these things in bankruptcy,” said Cathleen Cooper Moran, a bankruptcy lawyer in Palo Alto, Calif.
@Watchmann wrote:All the more reason for students (and their families) to really consider what they are purchasing when they sign up for student loans. In my view, you are buying a product when you go to college, a 'ticket' if you will, that will gain you admittance to a club that will pay you for a career. Too many parents and students treat this expensive four, or five, year experiment as some sort of indoctrination to life. So they come out with worthless, imo, degrees in liberal arts and other such degrees. The world is desperate for individuals with engineering and technical degrees. Hard degrees that are needed to keep society going. An engineer, nurse, technician, or other individual in sought after disciplines will ALWAYS be in demand. We wil always need plumbers and electricians, but we never really need liberal arts degree type people. You pay your money, and you takes your choice. Thirty five years after graduating with an engineering degree, I've never been faced with a dearth of job opportunities.