John RefiorIt's long been a truism that bankruptcy won't help you with student loan debt. But in the last year, under the Biden administration, that's changed.
"The vast majority of borrowers seeking discharge have received full or partial discharges. In 99% of cases where courts have entered orders or judgments to date, the government recommended, and the court agreed to, a full discharge or partial discharge."
https://www.justice.gov/opa/pr/justice-department-and-department-education-announce-successful-first-year-new-student-loan
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#Biden #StudentDebt #bankruptcy #DOJ #VanitaGupta
"The vast majority of borrowers seeking discharge have received full or partial discharges. In 99% of cases where courts have entered orders or judgments to date, the government recommended, and the court agreed to, a full discharge or partial discharge."
https://www.justice.gov/opa/pr/justice-department-and-department-education-announce-successful-first-year-new-student-loan
—
#Biden #StudentDebt #bankruptcy #DOJ #VanitaGupta
Justice Department and Department of Education Announce Successful First Year of New Student-Loan Bankruptcy Discharge Process
The Justice Department, in close coordination with the Department of Education, announced today a successful first year of the new process for handling cases in which individuals seek to discharge their federal student loans in bankruptcy. One year after Associate Attorney General Vanita Gupta announced the process in November 2022, data and information show that the process is achieving its goals of ensuring consistency and equity in the evaluation of student loan discharge requests, and that the process has translated into increasing numbers of eligible federal student loan borrowers seeking and obtaining debt relief under the Bankruptcy Code.