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A lot of those student loans are going to default.
Who can afford to pay them off, especially the millennials?
They may be in de facto default, but those debts cannot be discharged.
They will be discharged upon the death of the loanee.
Many people just wont pay them, or just pay the bare minimum.
I'm not sure how this works, because you will get a lien placed on your future earnings at some point, which means it's not up to you whether you repay or not.
The only ways around that (that I know of) are not working or only earning income under the table.
People always find ways around it.
And the system is just too slow to catch on.
Still, I think avoiding repayment puts a pretty significant limitation on earning potential.
Some people arent able to get a job with the education and loans they have.
*aren't able to get a job they want
That's my guess.
Plus, all the student loans and federal property.