“Probably very few of Obama’s college children, who have outstanding school loans, understand that they can NEVER walk away from their debt because it is NOT dischargeable in a bankruptcy, but they will soon find out.”
Discharging student loans in bankruptcy means you get to pick up the tab. Plus the rest of the taxpayers.
Remember the line from the Godfather, either your signature or your brains will be on that Contract?
Unless that happened in the College Admissions Office, I have no sympathy for people who get themselves into a hole that they expect me (and the Taxpayers) to dig them out of.
Bankruptcy Law is already too lenient IMHO. Somehow I survived for almost 60 years without getting myself in Debt that I could not, or had no intention of repaying.
I know that $hit happens, but willfully incurring Debt to attend an Ivory Tower bastion of Liberalism isn’t the way to get through life. Like John Wayne said, Life is hard, but it’s harder if you’re stupid.
The kids in our Family who went to College worked their way through with the help of Grants, savings or money from Family, not Loans. If none of those options are available, it might be time to find a new path.
I have always wanted a Ferrari, but the Mustang will do. I went to Community College intending to transfer to a University. I never made it that far because I started Working full time and made the decision to pursue opportunity there.
I live with my decision and I do not look back saying what if. Had I decided to further my Education at the time, I was brought up to be responsible. Signing on the dotted line for decades of indebtedness would have been a deal breaker. You reap what you sow.
In my Family, if you owe it, you pay it and quit whining. As my Father told me when I had a young head full of mush, nobody owes you a living so shut up and get back to work.
Oh boy, I’m such a meanie...