Asked by Saatvic Arora on Jul 27, 2024
Verified
Josh,a college student,has been told by his friends that filing for bankruptcy after graduation will discharge all his student loans.Discuss if this is correct.
Discharge
The legal term for the release or elimination of a debt, obligation, or charge, often used in bankruptcy proceedings.
Student Loans
Financial loans given to students to help pay for their education expenses, often subject to repayment with interest after graduation.
Bankruptcy
A legal proceeding involving a person or business that is unable to repay their outstanding debts.
- Comprehend the constraints and peculiarities associated with discharging financial obligations in a bankruptcy context.
Verified Answer
AK
Abhishek KumarJul 28, 2024
Final Answer :
Unless Josh can prove the student loans pose a hardship to him,they are not dischargeable in bankruptcy.
Learning Objectives
- Comprehend the constraints and peculiarities associated with discharging financial obligations in a bankruptcy context.