Student Loan Relief – NYTimes.com Op Ed

Student Loan Relief – NYTimes.com Opinion piece.

A law professor urges passage of a bill to make the loans dischargeable in bankruptcy.

Senator Richard J. Durbin of Illinois and Representative Steve Cohen of Tennessee have introduced legislation (S. 114/H.R. 532) to make private student loans dischargeable in bankruptcy, as they were until 2005. This would be the quickest way to push private student lenders to develop relief programs for borrowers who are unemployed, ill or otherwise unable to pay and who need deferments, furloughs and income-based repayment plans to avoid default and its severe consequences.