Should Student Loan Debt Be Easier to Discharge in Bankruptcy?
Denying student loan debtors the benefits of bankruptcy is unfair.
The US Supreme Court said in 1915 that the benefits of bankruptcy allow debtors to start afresh free from the obligations and responsibilities. Famous business leaders from Henry Ford to President Donald Trump have used bankruptcy for a fresh start.
Car loans, credit card charges, medical bills, and even gambling debts can be discharged in bankruptcy; not allowing educational debt to be discharged is unfair. Mark Huelsman, EdM, Senior Policy Analyst at Demos, wrote, [I]n a world where most students must borrow for a credential, borrowers should receive the same failsafe protections on these loan…