[Veggie Todd]

I thought they never wrote those off, even after bankruptcy.

[catbertz]

That’s what I thought as well. I believed it was part of the new bk legislation of recent years.

[TSgt]

That’s what I thought.

We should stop paying my wife’s. Being a deadbeat is the new black!

[Dr. Sivana]

I thought they never wrote those off, even after bankruptcy.

The banks can write them off, but the debt is still owed to the guarantor, usually the Fed Gov.

[discostu]

Part of writing off a loan is selling it to a collector for a small fraction of the loan amount. So just because a bank has admitted defeat doesn’t mean somebody else won’t be trying to collect.

[irish_links]

This group of write-offs were of private college loans made by commercial banks. These can be extinguished through BK. It is the federal loans that cannot be resolved in this fashion.

But, you can be sure that the performance of government insured loans is just as bad as that of private debt. It’s all just another wealth transfer from you to an Obama constituency, in this case the least productive sector of our economy: college professors and the even more useless dimwits who “administer” them.