Reply #82: He may get to start over debt-free but his credit is shot because he has a recent BK

[Nuclear Unicorn]

It'll take him 7 to 10 years to lose that mark on his report and even then he has to work his butt off making sure he makes all the right moves to improve his credit. Until then the banks will laugh him back out the door.

Meanwhile, if the student loan is forgiven the MBA goes back to work making 6-digits. You don't need a credit report to be a mid-level corporate manager. Meanwhile the would-be business owner sloshes it out in the trenches for a decade.

If the MBA makes enough money to pay his loan, make him.