The Value of Sending Your Kids to College

[twig93]

As I said in another thread:

@twig93

Make student loans dischargeable in bankruptcy, subject to some restrictions. Writing out those restrictions would be tricky, but I bet it could be done and land in a reasonable spot.

@twig93

…reasonable restrictions. Like maybe … it’s not dischargeable for 10 years after your last college course.

And the usual stuff about having no realistic prospect for paying it off at that time.

Most people aren’t going to deliberately f*** up their future by tanking their income / job prospects / further studies for a full decade.

So if you go to school to be a brain surgeon they can’t look at discharging any of your student loans until you’ve been out of med school for 10 years. At that point you’ve finished residency and should have realistic job prospects making over $500,000 a year so the debt wouldn’t be dischargeable.

If you go to school and major in math and got your Associateship or Fellowship in the decade after graduation you’re already making 6 figures.

Even if you went to school to be a teacher, if your debt isn’t too excessive, by 10 years you’ll have your masters degree and should be making $50,000 or more in most cases and can pay it off.

If you never finished and have been working as a barista for the past decade then your debt can be discharged.