Question:
Can anyone tell me, or find a link about not paying your student loan EVER!!! I know that filing bankrupt doesn't cover it anymore, BUT, there must be a way out of a mortgage payment for a 2 family loan situation. For those who are thinking -- PAY IT -- this family is unable to do that at this point. They are wondering if they wait ten years, 15 years 50 yrs will this ever just get written off??

I would like you to support your yes or no answer with a link to where you got your info please, these people are very dear friends of mine and I want to check everything out for them (no internet access at their place) Their loans are about 23,000 and 31,000 (husband & wife), they pay rent, have a child (and one on the way) and total mthly gross income is about 3000.00 (I'm guess-timating) Any info or sites are GREATLY appreciated, you can email me privately if you would like.

Answer:
www.canadastudentdebt.ca should have the info i'm sure somone has asked the same question or is in the same situation. You should find it here, if not ask and you will get an answer. I hope to God that student loans are never written off. Why the hell should I pay for 11 years and someone else should have theirs forgiven? They can probably arrange to have their payments lowered and extend the amortization period.

I certainly hope student loans can't be so easily written off otherwise every second kid will be going into university looking to jack up $30,000 in debt hoping to write it off. Problem is today's kids see the loans as 'free money' and spend, spend, spend. (I know one 30 year old with a B.A. and $40,000 in debt and she lived at home .ridiculous!!!) I got my education and did it by working while studying. I graduated without owing a single cent (and living in another province). If I can do it, there's no reason someone should be in so much debt that they can't afford a payment. My tax dollars should not support their lack of foresight. If they're in such dire straits .it's time for backruptcy.

I was of the thinking that you couldn't declare bankruptcy for student loans? Am I wrong? If so correct me. If the student loan is your only debt probably not. I don't know buddy's predicament, but it sounds like they have other debts and if it's only one of a number of other debts then it would have to become part of the pot. This guy sounds like he wants to have his cake and eat it too but unlike a mortage or car loan, they can't take back your education. Too many people see the student loan as 'free money' while the car loan or mortgage has more 'substance' .they'll jump head over heels to make a car payment but look at the student loan as the one that can be skipped.

If only the CIBC could repossess a portion of their brain then maybe the payment might have some priority teehee. It's not, nor has student loans ever been the tax-payer's money. The tax payer is the co-signator. I'm paying mine, a little at a time right now, but paying. This couple WAS paying them for the first 5yrs after leaving school, (FYI: one was using money for themselves and one used money for an education, housing and food ~ but this was all BEFORE they were together, and as any married couple knows, his & her debt become OUR debt when married!!) All that aside, that was almost 8 yrs ago now ..I have heard that filing bankruptcy does not wipe out student loans, when they meet with the financial person next week I may be able to answer that more correctly. BUT they are on the verge of bankruptcy anyway now ~ and are simply looking for a way to avoid it. Either paying smaller amounts or finding a way to get rid of it. " Have you checked the links on your mun page! I thought I saw something about that there last week.