teamkrejados (France)

In the states, if you have a federal student loan, you MUST repay it! It is the only loan that cannot be cleared under bankruptcy and there is no statute of limitations. Even 20 years on, the government can seize your assets if you defaulted on your Stafford loan (formerly: GSA - guaranteed student loan).

America being a credit driven society, everything you have and do depends on your credit rating: finding a job, getting a place to live, car insurance... even healthcare! You can imagine the high premiums one must pay if there is a GSA default on your credit report!

But that doesn't stop students from taking such loans out.

Shandong Youth University of Political Science released a group of graduation photos to celebrate the graduation season. The fresh and stylish photos are regarded as new tools to "snatch" students in the enrollment season. [Photo/Shandong Youth University of Political Science]