Allow student loans to be discharged in bankruptcy.

The Supreme Court has said: “The principal purpose of the Bankruptcy Code is to grant a ‘fresh start’ to the ‘honest but unfortunate debtor.’” A student who borrowed money for an education, in order to become a more productive member of society, who has fallen on hard times with no intention or evidence of fraud, is the epitome of an “honest but unfortunate debtor.” Excluding these people from basic financial protections granted to all other debtors unfairly favors lenders while students and alumni continue to struggle. The government has spent far too much money saving companies who abuse the systems they are trusted with, giving them more financial security than our student consumers. An entire generation of educated Americans is too big to fail. We demand action in favor of the people.