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The AP on Student Loan Hell

The Associated Press takes a good look at how a 2005 law traps borrowers in private student loans—upending the whole point of the bankruptcy code. Back in 2005, President Bush signed the misleadingly named Bankruptcy Abuse Prevention and Consumer Protection Act, a giant giveaway to the banking industry that included a provision making it nearly impossible to discharge private...
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Senators Introduce Legislation To Make Private Student Loans Dischargeable In Bankruptcy

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Since 2005, student borrowers have been unable to discharge their private student loans through the process of bankruptcy. But that could soon change after a group of 12 senators introduced a bill aimed at addressing the current stu...

Morning Docket: 03.12.15

Industries / Law : Above the Law

President Obama recently authorized a study into whether student loan debt should be dischargeable in bankruptcy. For now, any changes made to the bankruptcy code will likely apply only to private loans, so it looks like many law sc...

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Industries / Law : The Blog of LegalTimes

The congressional overhaul of bankruptcy laws in 2005 included a provision that students with private college loans can’t discharge those debts in bankruptcy courts, and now Sen. Dick Durbin (D-Ill.) wants to change that. At a heari...

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Business & Finance : Mashable: Business

Americans now owe nearly $1.2 trillion in student loans. The level of debt continues to rise even though the number of active borrowers has gone down since 2010. And even though Millennials are the poster generation for student debt...

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Business & Finance / Personal Finance : Forbes: Personal Finance

President Obama unveiled the Student Loan Bill of Rights which is designed to help borrowers of student loans have an easier time dealing with their lender and could lower the costs of student loans for borrowers.

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