Enact legislation that provides fair options for students and cosigners of private student loans giving citizens the right to request modifications of terms based upon income and other student loan debt similar to what is in place for federal student loans. Allow private student loans to be discharged in a bankruptcy similarly to how other loans are able to be discharged that are offered to citizens by the same private lenders. Inability to fairly deal with these loans are smothering many who are out of college causing them to be in default and leaving them with significant debt burden and inability to secure loans for vehicles and cars with fair terms.
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