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Make it legal to file for bankruptcy on student loan debt.

Created by M.L. on December 08, 2014

Student loans represent and undue burden for many in the US. Tuition rates have soared quickly beyond salaries. Why is there a safeguard for people who purchased homes beyond their financial means, but not those who sought to an education and found themselves in over their head.

It is even worse for those who were unable to complete their education due to financial hardship just to attend school. Make these debts the same as any other and allow them to be disposed of in bankruptcy.

The steps the Obama Administration took in 2011 to reduce student loan burdens does not go far enough. (see overview here) http://www.whitehouse.gov/the-press-office/2011/10/25/we-cant-wait-obama...

Make bankruptcy an option.

Economy & Jobs
Education
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