Bankruptcy and Student Loans. CRS Report R45113, Version 5. Updated

Autor/in	Lewis, Kevin M.
Institution	Library of Congress, Congressional Research Service (CRS)
Titel	Bankruptcy and Student Loans. CRS Report R45113, Version 5. Updated
Quelle	(2019), (51 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Student Loan Programs; Debt (Financial); Loan Default; Federal Legislation; Courts; Loan Repayment; Legal Problems; Standards; Financial Problems; Higher Education + Suchen Sie Ihr Suchwort? Schuldnerverzug; Bundesrecht; Court; Gerichtshof; Standard; Hochschulbildung; Hochschulsystem; Hochschulwesen
Abstract	As overall student loan indebtedness in the United States has increased over the years, many borrowers have found themselves unable to repay their student loans. Ordinarily, declaring bankruptcy is a means by which a debtor may discharge--that is, obtain relief from--debts he is unable to repay. However, Congress, based upon its determination that allowing debtors to freely discharge student loans in bankruptcy could threaten the student loan program, has limited the circumstances in which a debtor may discharge a student loan. Under current law, a debtor may not discharge a student loan unless repaying the student loan would impose an "undue hardship" upon the debtor and his dependents. This report provides a comprehensive overview of the various legal issues related to whether--and under what circumstances--a debtor may discharge a student loan in bankruptcy. The report begins by providing general background on bankruptcy law and the principles governing the discharge of outstanding debt. In so doing, the report explains how and why the Bankruptcy Code generally makes student loans nondischargeable absent an "undue hardship." The report then describes the various legal standards that courts have applied when determining whether a particular debtor is entitled to an undue hardship discharge. The report closes by describing various potential considerations for Congress, including ways in which Congress could alter the Bankruptcy Code's current treatment of student loans. (ERIC).
Anmerkungen	Congressional Research Service. Web site: https://crsreports.congress.gov/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/2/04