Posted on 07/10/2009 5:58:17 AM PDT by stan_sipple
hahahaha!!! what an IDIOT!!
shark bait must be scarce! I know tuition is high these days, but how to you run up that high a tab?
People like this are the reason student loans are exempted from being discharged through bankruptcy.
Apparently, the guy didn’t learn anything in attorney school.
just a few years ago you could wait 7 years and then discharge many student loans, but with so many borrowers bailing out on loans for bogus degrees Congress put the brakes on.
while we are at it, we should eliminate all loan forgiveness programs that give ACORNies subsidized legal help.
How the heck can someone be allowed to build 360k in student-load debt? Stupid on the part of the lender, just like in the housing crisis. However, I suspect if we dig below the surface we will find the hand of gov was involved.
how do you amass $360,000 in student loans and only be an attorney?
Well, if it can’t be discharged under bankruptcy, they are less likely to care. They know they will probably be paid back.
Is Higher Education the Next Big Bubble?
http://blogs.wsj.com/economics/2009/06/19/is-higher-education-the-next-big-bubble/
That’s the problem right there. People make stupid loans when there is little chance of bankruptcy negating the loan. Another stupid distortion of the marketplace courtesy of gov’t.
“if we dig below the surface we will find the hand of gov was involved”
No kidding! Student loans are a scam, and not unlike every other govt intervention program the very existence of them caused tuition to go up and quality of education to go down. Not to mention a kid starting life under crushing debt.
the lawyer should have filed bankruptcy in court within Sotomayor’s 2nd circuit. A wise Latina would have ruled in his favor (sarc)
"He quit each job for a variety of personal reasons," the decision said. ECMC v. Jesperson, No. 07-3888.
I guess lazy and stupid are personal reasons.
He didn’t.
Jesperson, a 2000 graduate of Lewis & Clark Law School in Portland, Ore., had amassed $363,218 in student loan principal, interest and collection costs
The guy has not made any effort to pay the loans off. Compounded interest is magical especially when you add in collection cost.
Also notice what the different courts say about the dead beat.
But the appeals court on Wednesday determined that his "self-imposed limitations," which resulted in a gross income of $48,000, were no excuse for nonpayment.
Jesperson's employment track record was "besmirched by a patent lack of ambition, cooperation and commitment."
“how do you amass $360,000 in student loans and only be an attorney?”
Easy. Don’t make the payments.
How the hell did he amass over $350,000 in law school bills?!
Totally disagree! It should read:
People mtake stupid loans when there is littlemuch chance of bankruptcy negating the loan.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.