Eliminate the bankruptcy protections enjoyed by private student loan lenders on loans not funded by taxpayer dollars.

Because of a 2005 reform law, student loans held by private lenders cannot be discharged in bankruptcy. The repeal of this law would immediately provide an incentive for these private lenders to work with individuals that are willing yet unable to repay their debt due to unforeseen factors with their family, health and/or the struggling economy. None of the monies used to fund these loans was provided by the taxpayer, but rather by private investors. This law serves only to have the government pick and protect the investment class 'winners' and harm and label the truly struggling citizen borrower as the 'losers'. Most will agree that any investment should include a risk of loss, yet this law has eliminated that risk and created a protected class of citizen and it must be repealed.