a republican appointee jerome is not known for his bleeding heart or stirring oratory. we re not on a sustainable fiscal path. we need to get on one. but on student debt, jerome has been surprisingly forthcoming. does the high level of student debt create a drag on the economy? as to loans becomes larger and larger it absolutely could hold back growth. that s the key. it s hard to tell from his jerome like delivery, but hold back growth is literally his nightmare scenario. if our college debt or a country, it would be the eighth wealthiest country in the world. this is kevin connell. after falling into almost $100, $100,000 of student debt of his own, he wrote two books, exposing the corruption of the student debt system, all by the time he was 21. in one word, how would you describe the student debt
bankruptcy. what do you mean? it is for all intents impossible to discharge student loans and bankruptcy. wait, i thought that all debt needs to be discharged in bankruptcy except for student loans. in 1998, they essentially took bankruptcy protections permanently away for all-time, from federal student loans. could this be true? and isn t bankruptcy a bad thing. i think the first time i heard the word bankrupt wasn t wheel of fortune. the audience goes oh, and you lose all your money. and i just assumed that something that i don t want. many clients post bankruptcy go on to buy houses, which they re never able to do. i have had two clients actually become multimillionaires. how hard would it be for me to discharge my student loan debt through bankruptcy? it is impossible. i guess bankruptcy is reserved only for the truly neediest cases.