S.1561 - A bill to amend title 11, United States Code, with respect to exceptions to discharge in bankruptcy for certain qualified educational loans.

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  • Official: A bill to amend title 11, United States Code, with respect to exceptions to discharge in bankruptcy for certain qualified educational loans. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
06/06/07
 
 
 
 
 
 
 

Sponsor

Senator

Richard Durbin

D-IL

No Co-Sponsors

Committees

Official Summary

6/7/2007--Introduced.Revises federal bankruptcy law with respect to the exemption from the exception to discharge in bankruptcy for certain educational loans if excepting such debt from discharge would impose an undue hardship on the debtor and debtor's dependents. Limits such exempti

Official Summary

6/7/2007--Introduced.
Revises federal bankruptcy law with respect to the exemption from the exception to discharge in bankruptcy for certain educational loans if excepting such debt from discharge would impose an undue hardship on the debtor and debtor's dependents. Limits such exemption to the existing ones for:
(1) an educational benefit overpayment or loan made, insured, or guaranteed by a governmental unit; and
(2) an obligation to repay funds received from a governmental unit as an educational benefit, scholarship, or stipend. Repeals the current exemption for:
(1) any loan made under any program funded in whole or in part by a governmental unit or nonprofit institution; and
(2) any other qualified education loan incurred by an individual debtor on behalf of the taxpayer, the taxpayer's spouse, or any dependent, including indebtedness used to refinance a qualified education loan. (Thus makes both kinds of loans nondischargeable in bankruptcy.)


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Recent Blog Coverage

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03/07/11
S.511 - Boutique Fuel Reduction Act of 2011 - OpenCongress

If enacted, S. 511 would make both public and private loans dischargeable in bankruptcy when seven years have passed from the beginning of the repayment period. Another bill, S. 1561, would eliminate privately financed . ...

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10/29/08
Das historische Urteil #19: Leichenbestatter irritieren Patienten

“Deshalb ist der Umstand, von einem Krankenpfleger versorgt zu werden, der sich nebenberuflich als Leichenbestatter betätigt, dazu geeignet, bei Patienten Irritationen hervorzurufen.” (Bundesarbeitsgericht in DB 2002, S. 1561)

Source: Rechthaber
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10/29/08
Fight for Students' Rights

Bill [S.1561] This bill would allow for some private student loans to be dismissed in bankruptcy. Fight for your rights as a student. Go here for the latest information on the bill: Bill Information Write you Senator Here.

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