Student Loan Consolidation Programs

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Student Loan Debt vs. Credit Card Debt

The bottom line with the United States bankruptcy legislation that passed in 2005 is that it is easier to get rid of credit card debt than student loan debt. We think this is a joke and here's why.

This legislation was designed to benefit the lenders, just like virtually every other piece of legislation passed by the Bush administration it benefited big business and put another straw on the backs of the middle class.

Robert Shireman, executive director of the Project on Student Debt is quoted as saying this by News-JournalOnline.com, “To treat the person who borrowed on the student loan more harshly than the one who borrowed on credit is backwards. … We want to be encouraging people to go to college.’’

News-JournalOnline.com also reported that the issue is being reviewed by the U.S. House of Representatives on Thursday. Let's hope for some sanity on this issue.

Posted by nicod3mus on February 7, 2008 09:01 PM |

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