How People Voted
 |
 |
56% For, 44% Against
Take Action
  |
Alert Your Friends and Colleagues |
  |
Write Your Representative in Congress |
| Save & Share | |
 |
del.icio.us |
 |
Digg |
 |
|
 |
|
 |
|
 |
Yahoo! |
S. 1561, A bill to amend title 11, United States Code, with respect to exceptions to discharge in bankruptcy for certain qualified educational loans (2 comments ↓)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
S. 1561 would amend title 11, United States Code, with respect to exceptions to discharge in bankruptcy for certain qualified educational loans.
()
Learn More
RSS Feeds for This Bill
Keep yourself updated on user contributions and debates about this bill! (Learn more about RSS.)
Visitor Comments
Chris
November 21, 2007, 1:19am (report abuse)This legislation would affect the cost of education by increasing the risk to lenders. Therefore, lenders would need to increase loans fees and/or interest rates to compensate for this additional risk. The end result would be increased education costs. The solution to decrease the debt burden on people who take out loans to finance education is to educate them on the consequences of takingon debt. Students need to be aware of the financial consequences of taking out debt. They need to weigh their increase in future earning potential versus the cost of the education. The price of the school, the choice of working part time while in school, the choice of major, and evaluating other financing options should all be considered prior to taking out student loans.
Sean
December 10, 2008, 12:34pm (report abuse)While this might seem like a valid arguement, the lenders at this time loan out loans with disceptive practices, designed to target those of a low income, who are trying to live the american dream and go to college. You saw what happened with the mortgage crisis, but you don't hear on the news about the millions of people that use to have payments of 150 a month have now become 650 a month due to adjustable interest rates. There needs to come a point when we stop allowing creditors to target these people and stop pushing people into the l rule of 33. These people will be in debt for the rest of their lifes and end up in bankruptcy becuase they are trying to discharge all of their other debts because they have to make thier student loan payments, this other dischargeable debts affect us on a much broader scale then student loans do.