Miami FL Bankruptcy Law Blog

Thursday, April 23, 2015

White House making student loan help a priority

I'm so pleased to see that the White House and Congress is making student loan assistance to consumers a priority.  It used to be the law that seven years after the student loan became due and payable, the debt could be discharged in bankruptcy as an unsecured debt.  That law changed, and presently student loans are only dischargeable based on hardship. That means you can only discharge your student loan debt if you could never use your educational degree or certificate based on financial hardship, often based on your health issues or disability.  Finally, thanks to Dick Durbin of Illinois and Elizabeth Warren of Massachusetts more....

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