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Student borrowers with certain types of private loans inched closer to being able to discharge that debt in bankruptcy after a New York court ruling.
Student loan payments resumed in October 2023, with the average payment estimated at $200 to $299 per month, according to U.S. Federal Reserve data reported on by Fox Business. See: Biden Cancels...
The new processes established by the Department of Justice in 2022 has made it easier for borrowers to discharge student loans through bankruptcy. Filing for student loan bankruptcy is never ideal ...
More student loan borrows have successfully received debt relief through bankruptcy after the Biden administration made a policy change to make the process easier nearly two years ago, according ...
According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all college costs. [41] In July 2021, the U.S. Second Circuit Court of Appeals ruled that private student loans are dischargeable in bankruptcy, [42] following two other cases. [43]
Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, both federal and private student loans are more difficult to discharge in bankruptcy than other types of ...
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