With dream colleges at the tip of your fingers and only money standing in your way, why not take out some easily-accessible loans you can pay back later with your amazing job? Well, more likely then not, you’ll be on a $30,000 salary with $100,000 in loans.

With tuition rates at a record high, it’s almost impossible not to borrow. However, this endless cycle has landed everyone on a fiscal cliff. But there is one bleak light at the end of the tunnel: the Fairness for Struggling Students Act has fought to allow private student loans to be eligible for bankruptcy. Students are encouraged to be responsible about paying back loans but after a five-seven year period if there is still a financial struggle bankruptcy is an option.

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