Studies money are excepted out of discharge under part eleven USC 523(a)(8) of Us Bankruptcy proceeding Password
- Towards , Representative. Steve Cohen introduced the personal Education loan Bankruptcy Equity Work regarding 2011 (H.R. 2028) and Sen. Knob Durbin delivered the newest Fairness for Troubled College students Operate (S. 1102). One another expenses manage repeal new exclusion to produce to possess personal college student finance. The house type do uphold an exception for financing software to own which dramatically all of the funds are given from the an effective nonprofit facilities, given that Senate version do repeal the fresh difference to discharge to possess all private college loans, it doesn’t matter if brand new funds have been made by the a for-funds or low-finances organization. One another bills create uphold this new difference to produce to have government and state student loan programs.
- Toward , relevant costs were launched in the us Senate and you can All of us Domestic out of Agents. Senators Knob Durbin (D-IL), Sheldon Whitehouse (D-RI) and Al Franken (D-MN) put the new Fairness for Battling People Operate (S.3219) in america Senate and you will Congressmen Steve Cohen (D-TN) and you will Danny Davis (D-IL) introduced the non-public Education loan Bankruptcy Equity Act of 2010 (H.R. 5043) in america House of Agents. The fresh new Senate and you will Home amendments differ a bit. One another repeal the new different for licensed knowledge money. Read More
