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Sunday, August 21, 2011

STUDENT DEBT: America's Next Bubble? | FoxNews.com

STUDENT DEBT: America's Next Bubble? | FoxNews.com

This isn't specifically law related, but I think fairly important for people to start taking note of. Of all the debts you can accrue, student loans are one of the few that can never be discharged through bankruptcy.

Now, think of all the college students and law graduates who have accrued $100,000 or more in student debt, who are now barely scrapping by and surviving with a job that quite possibly isn't in their field of study. It's quite possible we're going to hit a point that, like the mortgage market, people simply stop making payments on their student loans, and we will begin to see large economic ramifications.

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