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To: TurboZamboni
The main reason student loans are not dischargeable is that nearly all recent graduates qualify to file bankruptcy. If they were allowed to file on these many students would file bankruptcy immediately after graduation.

Perhaps a minimum waiting period (say 8 years) before they became dischargeable would be a compromise.

44 posted on 06/11/2012 2:55:02 PM PDT by CharacterCounts (A vote for the lesser of two evils only insures the triumph of evil.)
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To: CharacterCounts

IIRC, I think 0bama has recently proposed that all student loan debt be written off after 20 years or something like that.


46 posted on 06/11/2012 2:59:59 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: CharacterCounts

Obama orders changes to student loan payments

Oct 25, 2011

The Administration is moving forward with a new “Pay As You Earn” proposal that will reduce monthly payments for more than one and a half million current college students and borrowers. Starting in 2014, borrowers will be able to reduce their monthly student loan payments to 10 percent of their discretionary income. But President Obama realizes that many students need relief sooner than that. The new “Pay As You Earn” proposal will allow about 1.6 million students the ability to cap their loan payments at 10 percent starting next year, and the plan will forgive the balance of their debt after 20 years of payments. Additionally, starting this January an estimated 6 million students and recent college graduates will be able to consolidate their loans and reduce their interest rates. ...

http://content.usatoday.com/communities/theoval/post/2011/10/obama-orders-changes-to-student-loan-payments/1


58 posted on 06/11/2012 5:52:31 PM PDT by TurboZamboni (Looting the future to bribe the present)
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