Tuesday, May 20, 2014

Suze Orman: Student loans cannot be discharged

Q. My husband and I just bought a home and still have car and student loan payments. We want to start a college fund for my son, but should we wait until our student loans are paid off to start doing so?

A. Student loans are not dischargeable in bankruptcy, so I would not be starting right now until the student loans are under control. 

Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.