Amend the US Bankruptcy Code To Make Student Loan Debt Dischargeable
Under current bankruptcy law section 523(a) Exceptions to discharge provides that "an educational benefit overpayment or loan made, insured, or guaranteed by a governmental unit, or made under any program funded in whole or in part by a governmental unit or nonprofit institution; or an obligation to repay funds received as an educational benefit, scholarship, or stipend; or any other educational loan that is a qualified education loan, as defined in section 221(d)(1) of the Internal Revenue Code of 1986, incurred by a debtor who is an individual" cannot be discharged in bankruptcy. I propose that the section be amended to make these debts dischargeable if the debtor is unable repay the debt because she/he has been unable to find employment in the sector the debt was incurred for.
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