Obviously there is a heavy lobby against such a thing. Credit corporations and banks have had strong influence under the Republican Administration and would not want consumers to have a legal way out of not repaying student loan debt. However, with Obama in there the ball is up in the air for now. Where it lands noone can say for sure, but perhaps this is something that will be allowed.

I strongly disagree with everything that was said by Suddenly Human.

First off, never say never.

Second of all, whether or not student loans will become impossible for people to get, will depend greatly on what percentage of outstanding debt is lost to the new policy each year or quarter. As time goes on it very well may become difficult for people to get student loans IF bankruptcy claims spiral out of control. The key thing to remember is that the responsibility ultimately rests on the students’/alumni’s shoulders.

Back when bankruptcy was first established, people were more religious and had stronger family ties. It was considered very shameful to file bankruptcy and less people did due their higher morals. Student loan bankruptcy default may indeed become a serious problem, but I thought Human’s language was far too strong.