For anyone that thinks bankruptcy is an option:
Taken from Bankruptcy in Brief. The Moran Law Group website:
"The borrower's bankruptcy options on student loans have shrunk to a very few. Changes to the Bankruptcy Code in late 1998 made student loans non dischargeable, regardless of the age of the loan, unless the borrower can establish substantial hardship. Changes in 2005 made even private student loans non dischargeable.
Absent a showing of substantial hardship, the best that bankruptcy can do with respect to student loans may be to eliminate other debts that compete for the borrower's dollars, or to provide a measure of peace during a Chapter 13 case. Some courts will permit debtors to separately classify student loans in Chapter 13 and pay them a greater percentage than other unsecured debt.
It may also be possible to challenge either the enforceability or the accounting issues surrounding a student loan in bankruptcy."