Quote:
Originally Posted by Bugsinrugs
It is my understanding that student loans are guaranteed by the federal government. If the person defaults the lender gets their monies from the Feds. Also, they can still pursue the borrower.
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yep, and it's infinitely harder to get it back, especially if the borrower refuses to work. You have to deal with the feds-- who also can be told to go to hell....
It wouldn't be pleasant, but it's not against the law to NOT pay your bills and you can't repo an education.
rjp