263 – Why The 7-Year Rule for Student Loan Debt Should Be Eliminated

If you start a business, and get into trouble, no problem, you can go bankrupt or file a consumer proposal to get debt relief.  Even tax debt goes away in a bankruptcy.  But, if you have a government guaranteed student loan, the law says you must wait 7 years after you leave school to be able to automatically discharge student loan debt in a bankruptcy or consumer proposal. That’s both unfair and punitive, so on today’s podcast we explain how the rule works, and give our suggestions for fixing this injustice.