Getting Closer to Eliminating Student Loans in Bankruptcy!

The push to eliminate student loans is growing. Every day there’s a new story. Every day another politician is talking about possible solutions.

The latest domino to fall is President Biden’s Administration not objecting to particular bankruptcy cases that are attempting to discharge student loan debt. In other words, the government is now acquiescing to student loans being discharged in bankruptcy (at least in more circumstances than they used to).

I compare this situation to marijuana laws over the years. For many years, marijuana was illegal, and that was that. Slowly, it became less taboo. States stopped enforcing marijuana laws. Public opinion shifted. Soon, even the federal government stopped enforcing its own marijuana laws. With the current trends, I expect the federal laws against marijuana will soon be repealed/changed.

Similarly, I believe the overall momentum on student loans have shifted. A much higher percent of the voting constituency is hamstrung with student loan debt. Most people now believe the lenders are culpable for the exorbitantly high student loan debt. Public opinion has shifted heavily in favor of eliminating student loans. And to that end, even the current Presidential Administration is acquiescing to student loan debt being discharged in bankruptcy!

The fact that public pressure is increasing, and the federal government is softening its stance on student loans, I expect we’re just a few months, years, or election cycles away from the final domino falling: Student loans being dischargeable in bankruptcy.

In the meantime, Bankruptcy still provides amazing benefits to eliminate your other debts, and even provide relief from your student loan payments! Call/Text/Email with any questions.

Here to Hoping!

Lucas Ruffing
Bankruptcy Lawyer
740-815-1114 (call/text)
LucasRuffingLaw@gmail.com