Student loan nightmare. Man finds out his student loan balance is 200k after he graduates

[skepticscott]

44. Robbery? No one had a gun held to their head.

They accepted huge amounts of money on terms they freely agreed to. No one is prevented from researching the long term benefits of a college education and deciding whether they are worth what it will cost them for the loan. If they were careless enough not to do that research, if they just accepted someone's word on the internet that an expensive college education is the only way to succeed in life, that's on them, not on the lenders.

And if students could get out of their loan obligations by declaring bankruptcy, what would prevent everyone from borrowing as much as they wanted, and then declaring bankruptcy as soon after as they could get away with it? For every student loan recipient who defaults through bankruptcy, that's just that much more in interest that the lenders have to charge people who ARE paying off their obligations. The money has to come from somewhere.