Mark Jesperson racked up $350,000 in debt earning a law degree. That seems like a record to me, but I guess you can do that easily these days. He tried to declare himself bankrupt and a few lower courts agreed. But the appeals court slapped him down.
One argument that seemed to have resonance was the availability of an income-based repayment program. He could have paid a percentage of his income for the next 25 years. Then the rest would be forgiven with one nasty cavaet. He would owe taxes on the what’s forgiven. Wow. That’s a great deal.
Who let this guy roll up $350,000 in debt? I realize he should pay off the amount. I think he’s acting like a deadbeat. But who let the ticket out of slavery get so expensive?
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