MISSION: (PRACTICALLY) IMPOSSIBLE
Federal bankruptcy law only applies to student borrowers who can demonstrate “undue hardship” which is almost impossible to prove.
No one keeps track of how many people bring undue hardship cases each year, but it appears to be under 1,000 – far less than the 320,000 people failing to make their student loan payments.
WHY WE SHOULD CARE
Paying off student debt can be difficult enough, but for people who find their lives interrupted by a medical or financial tragedy, keeping up with student loan payments can become an impossible challenge.
OUR TIME OPINION
We have to create more lenient pathways for debt repayment that account for the extenuating circumstances in one’s life.