Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower. From 2008 to 2012, debt at graduation (federal and private loans combined) increased an average of six percent each year.
Over half of Californians have student debt. I have six figures of it. This is unacceptable and unsustainable. Why is it that declaring bankruptcy clears all outstanding debts with the exception of student loans? Should borrowers be punished for trying to improve their quality of life? This is broken.