Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
  • Mamertine@lemmy.world
    111·
    1 年前

    Student loans are intentionally excluded from bankruptcy because law students used to declare bankruptcy immediately upon graduating.

    They had tons of debt and no or very low income. The court usually discharged The debts.

    It wasn’t limited to lawyers. It’s just that the law students knew how to file fos bankruptcy, since bankruptcy law was part of law school.

    The banks lobbied Congress change the bankruptcy laws to prevent that from happening.