Congress moves to allow student loan borrowers to file for bankruptcy
Lawmakers have introduced a bill that would make it easier for student loan borrowers to cancel their debt in bankruptcy.
"It's important to have legislation that will provide vulnerable student loan borrowers who cannot repay their debt with a pathway to reestablish their financial stability," said Cheye-Ann Corona, a senior policy associate at the Center for Responsible Lending.Lawmakers have introduced a bill that would make it easier for student loan borrowers to cancel their debt in bankruptcy.Student Borrower Bankruptcy Relief Act of 2019.
A number of consumer advocacy groups, including Americans for Financial Reform, the National Consumer Law Center and the Center for Responsible Lending, praised the bill.
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