With massive student protests taking place in London today I’ve noticed a lot of web chatter about potentially putting oneself through university, racking up the fees and then declaring yourself bankrupt afterwards. A very shrewd move. However, this loophole was closed years ago after a few canny students began doing this. But the idea is a good one.

Sing for Free Education!

My advice would be to pay off the student loans with personal loans and credit cards before going bankrupt. However, one needs to be very careful here. The authorities are not stupid and could either reject your bankruptcy petition, or slap with you with a restriction order that lasts a decade. For this reason I would allow a good stretch of time to pass after paying off the student loans, keep racking up as much debt as possible – have ball whilst you’re at it – and then press the bankruptcy button a year or two down the line. I’m not sure whether this would work but I’d love to see somebody try. Well, it has been a day of protest and revolt…