Borrowers with Private Student Loans Could Get Bankruptcy Relief
Statement from Lauren Asher on private student loans and bankruptcy. Senator Dick Durbin and Representative Steve Cohen introduced legislation (S. 3219 and H.R. 5043) to treat private student loans like credit cards and other similar consumer debt, rather than like criminal fines and unpaid child support, making them dischargeable through bankruptcy. On April 22, 2010 Congressman Cohen chaired a hearing on private loans and bankruptcy.
