A report from the Center for American Progress is calling for the creation of two new student loan designations.  The first designation, qualified loans, would be subject to the Bipartisan Student Loan Certainty Act of 2013 and have a “reasonable likelihood of repayment.”  However, the second designation, nonqualified loans, would be subject to discharge in Chapter 7 bankruptcy cases.  Discharge of student loans is not generally permitted under the current bankruptcy laws and has been the subject of many heated debates for years.

For more on this story read, “Should Bankruptcy Be an Option for Student Loan Borrowers?”