- Robert Weed
Next Congress May Allow Bankruptcy for Student Loans
Updated: Oct 13, 2020
Right now, bankruptcy can do next to nothing with student loans. After the next election, that might change.
The Democratic Party platform promises to change the bankruptcy law, so student loans are just a debt, like any other. The Republicans decided this year to forgo writing any platform.
This depends first of all on former Vice President Joe Biden being elected President. If the Democrats also win a big majority in the US Senate, action might come very quickly. Otherwise, my personal guess is we won't see much happen until some time in 2022.