If a minor contracts for student loans for college, the contract is not voidable.

Question

Quizplus · Accepted Answer

Generally, contracts entered into by minors are deemed voidable at the option of the minor. However, in the case of student loans for college, the contract is not voidable. This is due to a provision in the Higher Education Act of 1965, which states that a student loan is a binding legal agreement even if the borrower is a minor. Therefore, the minor cannot use their age as a defense to avoid repayment of the loan.

If a Minor Contracts for Student Loans for College, the Contract