Changes to Private Student Loans & Bankruptcy Law
April 26, 2010 | Category: Student LoansLegislation has been introduced to change bankruptcy law to treat private student loans like other consumer debt. On April 22, 2010 Congressman Steve Cohen chaired a hearing on the issue. Durbin first introduced this bill in 2007. Before bankruptcy law were changed 2005 only government issues student loans were protected in bankruptcy.
Senator Durbin
News release
CBS Money Watch’s
Student Borrowers Could Shed Loans With Proposed Law
The Chronicle of Higher Education
Lawmakers Introduce Bills to Change Student-Loan Bankruptcy Policy
Chairman Mille, Committee of Education and Labor
Time to Restore Fairness for College Loan Borrowers in Bankruptcy
National Association of Student Financial Aid Administrator
Private Student Loans to Be Discharged in Bankruptcy
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