iOS app Android app More

Student Debt: Lawmakers Reconsider Ban On Discharging Student Loans

Wall Street Journal  |  By Posted: 04/30/2012 1:37 pm

Dick Durbin
Sen. Dick Durbin (D., Ill.) has introduced legislation to make it easier for borrowers discharge student loan debt.

Wall Street Journal:

The growth of student debt is stirring debate about whether the government should step in to ease the burden by rewriting the bankruptcy laws--again.

In 2005, Congress prohibited student debt from being discharged through bankruptcy, except in rare cases, because of concerns that many young graduates--who often have no major assets such as a house or a car--would be tempted to walk away from loan obligations.

Read the whole story at Wall Street Journal

FOLLOW MONEY

Filed by Emily Cohn  |