Huffpost College

Bankruptcy Won't Relieve You Of Student Loans

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If you run up big credit card bills buying a new home theater system and can't pay it off after a few years, bankruptcy judges can get rid of the debt. They may even erase loans from a casino.

But if you borrow money to get an education and can't afford the loan payments after a few years of underemployment, that's another matter entirely. It's nearly impossible to get rid of the debt in bankruptcy court, even if it's a private loan from for-profit lenders like Citibank or the student loan specialist Sallie Mae.

Read the whole story at nytimes.com