NY Times article about discharging student loans

Paying for College
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<p><a href=“http://www.nytimes.com/2012/09/01/business/shedding-student-loans-in-bankruptcy-is-an-uphill-battle.html?pagewanted=1&_r=1&partner=rss&emc=rss[/url]”>http://www.nytimes.com/2012/09/01/business/shedding-student-loans-in-bankruptcy-is-an-uphill-battle.html?pagewanted=1&_r=1&partner=rss&emc=rss&lt;/a&gt;&lt;/p&gt;

<p>It’s a long shot, but apparently possible.</p>

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<p>Advice from Mitt Romney:</p>

<p>You should borrow money from your parents: lower interest rate, flexible repayment, and you can always discharge the loans.</p>

<p>Seriously, the students should borrow less to attend an affordable school.</p>

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<p>Just Google: How to pay off college Debt. </p>

<p>The advice is simple: Reduce expenses
Stop spending money on non essentials </p>

<p>Here are three related articles. THIS ARTICLE should be copied and placed in the diploma of every college and grad school graduate who has college debt. IT CAN BE REPAID. You just have to have more roommates, use old furniture, no more eating out, take the bus, if possible. This guy did it in less than a year. Anyone can do it. </p>

<p>How To Pay Off $90,000 Student Debt In 7 Months</p>

<p>[How</a> To Pay Off $90,000 Student Debt In 7 Months](<a href=“How To Pay Off $90,000 Student Debt In 7 Months | HuffPost College”>How To Pay Off $90,000 Student Debt In 7 Months | HuffPost College)</p>

<p>[No</a> More Harvard Debt - YouTube](<a href=“No More Harvard Debt - YouTube”>No More Harvard Debt - YouTube)</p>

<p>[No</a> More Harvard Debt | Follow one person’s attempt to pay off $90k in student loans in ten months](<a href=“Private Site”>http://nomoreharvarddebt.com/)</p>

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<p>The first step to pay off the student loans (or any other loans)</p>

<p>1) Get a job. Ideally it pays lots of money.</p>

<p>The guy that paid off $90,000 tudent debt in 7 months has a job that paid him 6-figure salary.</p>

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<p>The take home lesson is that he paid more than the minimum payment and squeezed as much from his budget as he possibly could. Even without his income others can apply his lesson.</p>

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<p>Lmao. Seriously, just lmao. </p>

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<p>Great advice. No, really! Especially given that everyone who wants a job can obtain why. <em>facepalm</em> Why didn’t I think of that?</p>

<p>But really, no one should be taking out this much in loans. They’re not in his name only. But this issue has been rehashed time and time again so I won’t bother.</p>

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<p>Remember, this person took out loans to attend HBS at a cost of ~70k a year, which was probably the main source of his debt. He said himself, that he has a 6 figure job, while living in a low COL area, sold off stuff that he did not need;2nd car, motor cycle, payment into his 401k (a luxury you can do for a minute when you are in your 20’s), while taking on roommates.</p>