In response to the "Bankruptcy shouldn't relieve student debt" letter (March 27):
Business loans, student loans, auto loans, mortgages and other forms of borrowing are usually made with the best of intentions, but borrowing can sometimes result in bad decisions. Businesses fail, consumers fail or something happens that results in an inability to repay the debt. Bankruptcy helps remedy those bad financial decisions and permits debt relief and a fresh start.
Why, pray tell, are students and their cosigners (usually parents) less protected from bad financial decisions and unable to avail themselves through bankruptcy protection that's available to the auto industry, businesses, mortgage lenders, credit card companies, etc?
Education debt in America is punitive to consumers and a windfall to lending banks, which is very disturbing.
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Consumers unable to repay student loan debt shouldn't be treated as morally repugnant or less deserving of financial help, so don't deny them basic bankruptcy relief.