A coalition of Democratic lawmakers have introduced bills in both the U.S. Senate and the U.S. House of Representatives that increase fairness in student lending by ending bankruptcy protection for private student loans.
The bills seek to roll back changes to private student loans that were made to the U.S. bankruptcy code in 2005. The changes prevented private student loans from being discharged in bankruptcy, a protection that had been granted for federal student loans in 1978 as a way to protect federal investments in higher education but which was not afforded any other type of commercial loan.
Read the entire article at Student Loans Blog
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