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  1. #1
    Join Date
    Sep 2016
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    Default Can Repossession Laws Get You Out of Paying Student Loans

    Can a college student who thinks that the degree that they received was worthless tell a student loan lender to repossess the degree? They don't want to spend years paying for the degree that can't get them a job.

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Can Repossession Laws Get You Out of Paying Student Loans

    No, but it's an amusing idea.

    Student loans aren't secured loans. A degree is not something that can be taken back and resold to somebody else -- and if it were, the sale value would be $0 meaning that the student loan borrower would still have a deficiency for the difference between that resale value and the amount owed, such that they would still owe the entire debt (plus the costs of 'repossession' and sale).

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