This is a topic near and dear to the heart because significant student loans can make living a fabuless life extremely difficult for anyone who has pursued a higher education.
In terms of personal finance and debt, student loans are often one of the biggest concerns for upwardly mobile professionals trying to survive in this economy. Consequently, you will find numerous posts on the subject, so keep checking back for more updates and information.
The movement to provide more relief to graduates sinking under student loan debt is gaining ground.
On September 23, the president of The Institute for College Access and Success testified before a House Judiciary subcommittee about changing the unfair treatment of private student loan borrowers in bankruptcy. (Currently, student loans are not dischargeable.) TICAS runs the Project on Student Debt – a non-profit organization geared toward:
…identify[ing] cost-effective solutions that expand educational opportunity, protect family financial security, and advance economic competitiveness.”
A coalition of 18 student, consumer, college, and public policy organizations are advocating for this change, and prominent legislators pledged to draft and support legislation to treat private loans more like other consumer debt in bankruptcy.
The Project on Student Loan Debt needs your support to do so, and you can find them here:
http://www.projectonstudentdebt.org
Filed under: News, Personal Finance, Student Loans Tagged: | debt and bankruptcy, debt dischargeable in bankruptcy, project on student loan debt, student loan, student loan debt, student loan debt relief, student loan foregiveness, student loan legislation, student loan relief, Student Loans, student loans and bankruptcy
