Using bankruptcy to solve student loan problems

Under the current bankruptcy code, student loans are non-dischargeable. It is almost impossible for debtors to discharge student loans even though they can wipe out most, if not all, other types of unsecured debts. Currently, student loan debt exceeds credit card debt by 28% with almost one-half of all American families facing paying off student loans. For those that are unemployed or have had a substantial decrease in income, paying off their student loans seems impossible. By reforming the bankruptcy code, it may be possible to help debtors suffering from student loan debt while also improving the economy.

For more read the full story at, “How bankruptcy could help solve the student loan crisis.”

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