consumer bankruptcy

My thoughts on whether the Bankruptcy Code should be amended to allow easier discharge of student loan debt are upon The Examiners at the Wall St. Journal. Short of it is yes for private student loans, no for public student loans.

Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing?

In a report released last year, the New York Federal Reserve estimated that student loan debt had climbed to $966 billion in 2012, with more than two-thirds of that debt owed by borrowers younger than 40 years old. The report estimated that 6.7 million borrowers, or 17%, are at least 90 days delinquent on their debt.

Bankruptcy trustees are suing universities—and sometimes, college students themselves—to take back tuition that had been paid years before as part of an aggressive and growing legal tactic.