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The Department of Education recently announced a successful first year of its new program, loosening the standards it uses in determining whether to oppose people seeking an “undue hardship” of their student loans, once they have filed for bankruptcy. The Biden...
Department of Education to relax standard for Student Loan discharge in Bankruptcy. A recent press release indicates that the Department of Education is going to make it a lot easier for people who have, or will, file bankruptcy, in order to get rid of their student...
The MN attorney general just announced that it will be issuing $38 million in relief for students who attended the MN School of Business and Globe University, which are for-profit schools that are no longer doing business. More information, including how to apply for...
Yesterday Senator Richard Durbin (D-IL) and Senator John Cornyn (R-IL) introduced “Fresh Start Through Bankruptcy Act”, bipartisan legislation, that will restore the ability to discharge student loans in bankruptcy. This is the first bipartisan effort in the U.S....
In bankruptcy, student loans are not dischargeable unless the borrower initiates and can prevail on a separate lawsuit to determine that it would be an undue hardship to pay it back. Courts have interpreted this to be a relatively high standard, virtually impossible...