Will you be able to discharge your student loans in bankruptcy?The Student Borrower Bankruptcy Relief Act of 2019
A new bicameral bill in Congress may help the nation's 44 million student loan borrowers have access to bankruptcy relief.Dick Durbin and Elizabeth Warren as well as U.S. Representatives Jerrold Nadler and John Katko eliminate the section of the U.S. bankruptcy code that prevents federal students loans and private student loans from being dischargeable in bankruptcy.
“Long before I came to the Senate, I fought my heart out to keep student loans dischargeable in bankruptcy," Warren said."But over and over again, Congress chipped away at this critical protection for student loan borrowers.”cancelling student loan debt and making college free for millions of Americans.Unlike other types of consumer debt such as credit card and mortgages, student loans traditionally cannot be discharged in bankruptcy. In 2005, Congress passed, and President George W.
Bankruptcy should cover all debts. This just makes sense to me.
Why should tax payers continue to pay for debts that others can't manage? If you can't afford something, don't buy it! That goes for education as well!!
Considering the abuse of the “May” loan companies toward student loans...they should be included in bankruptcy filing. When making offers to “consolidate” student debts, often the total debt would increase by 1/3 to 1/2 of the combined total.
Woo, Woo, Woo, WOO! Me wanna be in charge, me indian chief!