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You'll have trouble getting a home loan for 7 years. And maybe a bit of trouble getting a car loan or a credit card for a while.

But these things aren't a big deal for most 21 year olds. Certainly they are smaller considerations compared to paying back a high 5 or 6 figure debt.

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You also probably can't be a director of a private or public company until the bankruptcy is discharged (2 years?).

If student loans became dischargeable through bankruptcy, I imagine that could put pressure on bankruptcy laws in undesirable ways (e.g., the current 7 year period might get extended to 20 years).

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