Student Loans: Good Debt – Bad Debt
There is a common misconception about student loans. How bad could they really be? They are backed by the government, right? They don’t even charge interest right away. Bad Debt!
Student loans are the worst kind of debt. In most cases, student loans are not able to be discharged in bankruptcy in either Chapter 7 or Chapter 13. Even with a repayment plan, the student loans will be there waiting after discharge.
Student loans are an evil trap attempting to control the population with debt obligations. Don’t fall for it. Tuition is simply too high. Paying for it with money you will have to repay does not change anything.
Don’t be fooled by all the charts showing how much more money a graduate will make. Those charts are created by people who don’t understand cause and effect. More driven people are likely to continue their education. They end up making more money because they are driven, which will likely involve education, but not because education is a magic charm.
Be careful. There are ways to discharge student loans, but hire the right lawyer. Even if you have to pay your student loans, the right Arizona bankruptcy attorney is the best investment you can make. Contact Us.
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