A Defense of Student Loan Nondischargeability

By Phil Lamos, Chief Legal Counsel of the Chapter 13 Trustee, Craig Shopneck, Cleveland, OH

Much has been made lately of the high amounts of student loan debt carried in this country.  Commentators have called the high levels of student loan debt a “crisis,” “the next housing bubble,” and a “debt bomb.”  Many of these same commentators have called for §523 of the Bankruptcy Code to be rewritten so that student loans can be discharged in bankruptcy.  This would, the commentators say, bring student loans in line with other kinds of debts and would give financially-distressed student . . .

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