Student loan debt isn&#x27;t dischargeable in bankruptcy, but their are income based repayment plans.<p>You can pay back either 10% of your discretionary income, for 20 years and then the remaining balanced is forgiven (if a balance remains).<p>Discretionary income is defined as the difference between your income and 150% of the federal poverty level.
If you have 200k in student loans, but only make 30k a year because you can&#x27;t find a job better than starbucks, you&#x27;ll only pay about $100 a month. If you have a spouse and a kid, you&#x27;ll pay nothing.<p>*note these number depend on when you borrowed. Older loans have to pay 15% for 25 years instead of 10% for 20 years.