There are other options aside from defaulting on one's student loan debt, at least in Canada. The NSLSC (National Student Loan Service Centre) will work very hard to ensure that the payable amount per month is within a person's income, with the Government paying interest and (potentially) a portion of the principle. If a person is making under a certain amount, they're not required to pay any of it. Finally, if a person is still making very little money, after 15 years the debt is completely discharged without any hint of bankruptcy. Going bankrupt because he doesn't want the debt over his head is a selfish attitude. Moreover, regardless of wherever the money is coming from, it's an irresponsible attitude, and (I'd argue) an unethical attitude as well. Furthermore, to encourage other people struggling with their student loan debt load to declare bankruptcy is deplorable. Anecdotally, I have three degrees, like the writer, but unlike the writer, I'm still paying off my student loans and will likely be doing so for the next eight or nine years. Nine more years with a sizable chunk of my income going towards servicing debt that I earned when I was in my early 20s--my monthly mortgage payment and my student loan payments are about the same. I'm making it work. I don't see why this writer chose to default, especially given the economic situation in the US 30 years ago when he defaulted. Yet, if someone finds themselves trapped in a situation where their only rational business decision involves making the business decision of defaulting, it's suddenly time for "THINK OF THE CHILDREN!".