Frank ran up a large credit card bill as an undergraduate student,he also took out as much in student loans as possible.He is now unable to pay his credit card debt and his student loan debt.However,he has decided to declare bankruptcy to eliminate his debt.Frank will be able to eliminate his federally subsidized student loan debt by declaring bankruptcy.

Question

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Frank will not be able to eliminate his federally subsidized student loan debt by declaring bankruptcy. Student loans are not typically dischargeable in bankruptcy, except in rare cases where the debtor can prove undue hardship.

Frank Ran Up a Large Credit Card Bill as an Undergraduate