It's Time to Push for Bankruptcy Protection
Last week, Senator Dick Durbin and Congressman Steve Cohen introduced legislation to make private student loans dischargeable in bankruptcy. Private student loans are more like credit cards than financial aid, but since 2005 they have been much harder to discharge in bankruptcy than other forms of consumer debt.
Please urge your representatives in Congress to support these bills to provide fair treatment of borrowers with private student loans.
Congressman Cohen will chair a hearing on private loans and bankruptcy tomorrow, April 22, at 9:30a.m. If you're in DC, we hope you'll attend: it's in Room 2141 of the Rayburn House Office Building. You can also follow the hearing online.
For more about our work to improve consumer protections for private student loans, please visit our Private Loan Publications and Resources page.
(This message was sent to the Project on Student Debt mailing list on April 21, 2010.)