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Tag Archives: student loan debt

Private Tuition Loans Most Oppressive, Not Likely Discharged in Bankruptcy

Much has been written about the stringency of American bankruptcy laws since passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act. The law targets individuals who might try to game the system, declaring bankruptcy while retaining significant assets. The provisions of the 2005 act have largely succeeded in preventing abuse. But in a… Read More »

Student Loans and Bankruptcy

Student debt in America recently crept above one trillion dollars, meaning that Americans now owe more on their student loans than they do on their credit cards. And the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) changed the rules so that no student loans — public or private — could be discharged… Read More »

Student Loan Debt Rises on the Consumer Debt List

News media outlets such as the Washington Post, CBS News, Fox News, and MSN Money all took their cue in reporting concerns over the fact that student loan debt rose above other key consumer debts. According to a 2012 report issued by the Federal Reserve Bank of New York, student loan debt has reached approximately… Read More »

Proposed Legislation to Deal with the Growing Problem of Student Loan Debt

A Senate judiciary subcommittee is looking into the nation’s growing student loan debt problem. Government data revealed that there was a 15 percent loan default rate at private institutions in 2009. Senate Majority Whip Richard J. Durbin convened the judiciary subcommittee and sponsored legislation to allow individuals to discharge private student loan debts through bankruptcy…. Read More »