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

Student Debt: Lawmakers Reconsider Ban On Discharging Student Loans

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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