The debt is effectively dischargable. For government employees, the debt is forgiven after 10 years if minimum payments are made. For private sector workers, the debt is forgiven after 20 years if minimum payments are made. With income contingent repayment, students are only required to pay 15% of discretionary income (Obama has lowered it to 10%). A student with $10,000 of discretionary income each year will only pa $1,000 per year so that the government employee discharges the debt paying only $10,000, not enough to even cover interest payments on most student debt.
Thanks. I did not know all that. What about the ParentPlus Loans?