Durbin Urges Private Student Loans Be Discharged in Bankruptcy
This article is for subscribers only.
Students who take out loans from private lenders to finance their education should have the same right to discharge their debt in bankruptcy that other borrowers enjoy, Illinois Senator Dick Durbin said today.
“While the overall growth in student indebtedness is troubling, the most pressing concern is private student loans,” Durbin, the No. 2 Senate Democrat, said in prepared remarks at a Senate judiciary subcommittee hearing. “These private student loans are a far riskier way to pay for an education than federal loans.”