Student loan borrowers have reason for hope

sldaStudent loan debt is now the largest debt burden owed in the country by Americans.

This has been a hardship on millions of families for years.  For people who wanted to get out from under the large amounts, there has been very few options available as its practically impossible to discharge student loan debt in a bankruptcy.

However, that may change if Congress and the President can get moving on a bill that would allow a debtor to pay back his or her student loans in a chapter 13 plan.

If that happens, then student loan debt could be treated like other debts in a Chapter 13 bankruptcy plan and debtors could  qualify to have their student loans paid off in as little as 5 years under the bankruptcy code.

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