Wednesday, January 23, 2013

Update: Student Loans

Sorry for the lack of recent posts.  Final exams took considerable time away from me.  I'll try to be better in the future.

I thought that I should briefly write about something important in the world of bankruptcy that has recently come to my attention.  A new study, discussed on a recent ABI podcast, reveals new data about the dischargeability of student loans.  Specifically, when debtors attempt to discharge their student loans, they are successful approximately 40% of the time.  This is in sharp contrast to we often hear in the media, that student loans are "nearly impossible," or sometimes even that they absolutely cannot be discharged.  It seems as though such media reports have produced a deterrent effect on debtors from even attempting to discharge their student loans.  For more details, I highly recommend listening to the podcast: