5 Things to Know About Bankruptcy and Student Loans

The White House is considering whether to make it easier for Americans to get rid of their student loans through bankruptcy, a major change that would effectively open the door for student debt being treated on par with credit-card debt and mortgages. #1: Why is the White House considering making changes? Federal law prohibits student loans—whether made by private lenders or the federal government—from being wiped out in bankruptcy, except in rare circumstances. Other forms of consumer credi