Bill to Discharge Student Loan Debt?

Posted on March 23, 2012 at 11:51am by

A study by the Federal Reserve Bank of New York found that more than a quarter of people with student loans have past-due balances. Senator Richard Durban says that “The student debt crisis in this country is largely ignored by Congress” and he held a judiciary subcommittee hearing on Tuesday seeking support for his proposed bill to remedy what one consumer group has called the nation’s next “debt bomb”. The Washington Post has more on the story here. As a rule, student loan debt cannot be discharged in bankruptcy but this is certainly a hot topic of debate as evidenced by the comments made on the article. What’s your take?