Wow, 99% cancelled for this S.E. Asian refugee?? What a lucky guy

[theking]

Medical school graduate sees nearly all of his $440,000 in student loans discharged

Medical school graduate sees nearly all of his $440,000 in student loans discharged. A medical graduate with more than $440,000 in student debt recently saw nearly 99% of his loans cancelled by a bankruptcy court in California, highlighting the growing trend of certain student loans being dischargeable.

San Diego-based Seth Koeut was born to Cambodian refugees who came to the U.S. when he was a child and later pursued a medical degree in hopes of becoming a doctor.

After he failed to obtain a residency role — a required part of the transition from medical school graduate to licensed medical professional — Koeut ended up working menial jobs for before filing for chapter 7 bankruptcy in May 2012 while holding $440,465.66 in federally-backed student debt. (As many as 10,000 medical school graduates in the U.S. are not matched with residency programs, according to a recent New York Times report.)

In 2015, Koeut filed an adversary proceeding to discharge his student loans as part of his bankruptcy. After the adversary proceeding was dismissed, Koeut filed an appeal in 2018. In October 2020, arguing against a discharge of the loans, the Department of Education (ED) contended that he had “not given his best effort to find better employment."