One of the problems with bankruptcy today is that it doesn't address the looming problem of student loans. For many people in America who have crippling debt, the issue isn't that they don't make enough money or that they aren't good with it. The reality is that their student loans can cost them as much as a mortgage payment each month, straining their finances significantly.
It's not unusual to see that many people carry debt in the form of student loans. For one in three consumers, student loan debt makes up around 49 percent of their debt, leaving them with as much as half of their debts untouchable through bankruptcy. Presently, bankruptcy does not allow the discharge of many student loans.