Joe Nocera, Bloomberg, JOE discussed on P&L With Pimm Fox and Lisa Abramowicz

Automatic TRANSCRIPT

And on bloomberg dot com. It is time for a bloomberg opinion. They were going to look at student debt. I think it's very today that nobody really wants to ever declare bankruptcy but some people do have to bankruptcy the one thing though that you won't be able to discharge in bankruptcy. Is your student loans. You'll carry them around for the rest of your life if not able to pay them off well. Our next guest says bankruptcy is the solution to the student loan crisis. Oh to get buddy means. Let's bring in joe nocera opinion columnist. Joe obviously you know this idea that you can never discharge your student loans. Even in bankruptcy is something to be reckoned with. You can spend a fortune getting you know an education and then life can intervene. You can end up going bankrupt which you'll still have those student loans. You know following you around for the rest of your life. How how do we change that. How can that be changed. Good morning from first of all. It's beyond the rest of your life because once you die the federal government will come after your estate to get to get paid off on the student lamb You know this has been something that's been going on for about forty years starting in the late sixties and and they made it the congress made it more and more difficult near impossible to discharge a student loans. Not only those that are granted by the federal government which is about ninety percent but also those that are granted in the private market by banks and and and institutions that grant. Student loans.

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