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Filing for student loan bankruptcy is never ideal, but sometimes, having debt discharged is the only way forward. ... If you need temporary relief from private or federal student loans, look into ...
According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all college costs. [41] In July 2021, the U.S. Second Circuit Court of Appeals ruled that private student loans are dischargeable in bankruptcy, [42] following two other cases. [43]
Private student loan borrowers who filed for bankruptcy are finally getting some relief from student loan provider, Navient Corp. (), to the tune of $198 million.Navient settled a lawsuit with ...
Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, both federal and private student loans are more difficult to discharge in bankruptcy than other types of ...
Since then, about half of private student loans offer death and disability discharges. In 2011, The New York Times published an editorial endorsing the return of bankruptcy protections for private student loans in response to the economic downturn and universally increasing tuition at all colleges and graduate institutions. [18]
Student borrowers with certain types of private loans inched closer to being able to discharge that debt in bankruptcy after a New York court ruling. Student borrowers with certain types of ...
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