alt Hacker NewsIf bankrupcy is allowed some reasonable number of years later (not sure if that is 7 or 10, but some reasonable time) then if your education worked out and you're in a good career path and maybe close to buying a home, etc, declaring bankrupcy would probably hurt more than help.
OTOH if you're still poor after those years and don't care about consequences of bankrupcy then maybe that's fair enough to wipe out the debt since the education clearly didn't provide value.
> declaring bankrupcy would probably hurt more than help.
It wouldn't help at all as you are typically forfeiting all but essential assets by declaring it. The only people who benefit are those with nothing to their name except perhaps the home they live in and the car they drive to work everyday.