Student Debt: Lawmakers Reconsider Ban On Discharging Student Loans

04/30/2012 01:37 pm ET | Updated Jun 30, 2012

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.

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