Exactly...this is why you cannot BK student loans in the first place.

Otherwise many college grads would simply find themselves "unemployed" after graduation, file bankruptcy, discharge their college debt, and then move on with life. There would be ramifications for seven years, but maybe not as rough as $1200/month student loan payments for thirty years.

If people are allowed to do this, students won't be able to get loans at all. Banks will have to look at the hard facts of their current income and finances.

Would a bank issue a home loan to someone with ZERO collateral who's financial plan consisted of being unemployed for 4 years (or holding part-time minimum wage jobs), followed by an attempt to break into a career for which the person had no proven ability, training, credentials, or experience. Hello no, they want to see a proven track record in the industry, proof of income, and at least a year or two with the current employer. At least with a home loan the bank can repossess the damn thing.