If you have outstanding federal school loans, you'd best not mess around. Even personal bankruptcy won't make them go away. Permanent record, indeed.
It's wonderful that big companies can be forgiven all sorts of bad debt (even if it's their own negligence or poor business acumen that got them in trouble in the first place), restructure their operations, and go on as if nothing happened. But those college grads . . . better watch out for them and their $69 lousy dollars per month . . .
Jason, did you post this just to get me started?