July 2, 2014
There may be hope for individuals who have student loans. At this time, student loans are not dischargeable .
However, on June 25, 2014, Senate Education Committee Chair Tom Harkin (D-Iowa) introduced legislation that would allow a small portion of Americans’ student loans to be discharged through bankruptcy Court.
Consumer advocates are behind this legislation as well as the banking industry.
The bill’s prospects for passage this year are not looking good given the midterm elections and broad partisan disputes over higher-education policies.