Recently on our legal forum a user asked, “I am one of the thousands of students who has accumulated student loan debt. I should have listened to my parents and gotten a degree that was marketable but instead my liberal arts degree has left me with nothing but debt and a job as a barista in a local coffee shop unable to repay my student loan. I am wondering if filing bankruptcy and discharging my student loan debt is possible and what I need to know?”
Recently on our bankruptcy forum a user asked, “I am about to go to college. I read that up to 60% of students in the U.S. are now borrowing money to pay for college. If I do decide to take out a college loan what do I need to know before I do it?”
Asking questions about whether or not you need to borrow money for college is a great first step to ensuring you don’t make the same mistakes that so many students make. Unfortunately, experts estimate that college loan debt is likely to become the next crisis, most likely surpassing the housing crisis of 2008.