Student Loan Forgiveness Provides Relief
44.7 million Americans carry student loan debt totaling $1.56 trillion, second only to mortgage debt. The average student loan payment for borrowers 20 to 30 years old is $393 per month. Student loan forgiveness would provide relief to these distressed borrowers. In the last quarter of 2018, U.S. student loan delinquencies reached a record of […]
Tuition is Dischargeable in Bankruptcy
Section 523 of the Bankruptcy Code provides that student loans are not dischargeable in bankruptcy. But unpaid tuition is not a student loan. While it is extremely difficult to discharge student loans in bankruptcy, unpaid tuition is dischargeable in bankruptcy. 11 U.S.C. 523(a)(8) provides that, absent undue hardship, a debtor cannot discharge student loans. The […]
D.C. Bankruptcy Attorney Advocates for Student Loan Discharge
Brian V. Lee, the District of Columbia State Chair for the National Association of Consumer Bankruptcy Attorneys (NACBA) and principal attorney for Lee Legal, met with District of Columbia Congresswoman Eleanor Holmes Norton to discuss the student loan discharge in Chapter 7 bankruptcy. The meeting was part of “Hill Day at Home,” which allows NACBA […]
Are student loans dischargeable in bankruptcy?
In the United States there is more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000. Are student loans dischargeable in bankruptcy? No. If you are considering filing for bankruptcy in the Washington, D.C. area, you should know that student loan debt is generally nondischargeable, which means that […]