Tag Archives: Student Debt
Discharging Student Loans In An Illinois Bankruptcy
Largely because of the pension crisis and dwindling enrollment, Illinois college tuition has increased substantially over the past several years. As a result, the average student now graduates with almost $30,000 in student debt. Even more disturbingly, lower-income students borrow much more than higher-income students. Due to the rising debt load, and the negative… Read More »
The Changing Face Of Bankruptcy And Student Loans
There is an old axiom among lawyers that “bad facts make bad law,” and the law regarding student loans and bankruptcy is an excellent example of this old saying. Congress passed the Bankruptcy Act in 1867, and passed substantive amendments in 1898. The Bankruptcy Code remained essentially unchanged until 1938, when lawmakers introduced the… Read More »
Former ITT Tech Students Begin Student Loan Strike
A few debt-ridden former students of the now defunct for-profit college are taking a stand against high student loan payments by intentionally refusing to make payments. More than 100 people announced the joint effort in a letter to President Barack Obama and Education Secretary John King. Despite the former college’s assurances that nearly three-fourths… Read More »