Senate bill would extend the release of student loans in bankruptcy

Law360 (Aug 3, 2021, 5:36 p.m. EDT) – A bipartisan bill announced by the Sens on Tuesday. Richard Durbin and John Cornyn would allow borrowers to free themselves from student loans through bankruptcy 10 years after their first payments were due while requiring colleges and universities to repay part of the debt paid.

Durbin, D-Ill., Unveiled the proposed change to the federal bankruptcy code – dubbed the FRESH START Through Bankruptcy Act of 2021 – during a Senate Judiciary Committee hearing focused on student loan bankruptcy reform, claiming he had proposed similar changes before, but now, for the first time, had bipartisan support from Cornyn, R-Texas.

“We talked about it …

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