HR 423 · in committee · significant
Private Student Loan Bankruptcy Fairness Act of 2025
- economy
What this bill does
- This bill allows private student loans to be discharged in bankruptcy without proving undue hardship.
- Borrowers with private student debt are affected by this change to bankruptcy law.
- The bill takes effect upon passage and applies to future bankruptcy filings.
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Community Threads
Started by Cosponsor
- 01
How might removing the undue hardship requirement for private student loan discharge affect interest rates that lenders charge for future private student loans?
- 02
What percentage of private student loan borrowers currently file for bankruptcy, and would this policy change meaningfully increase that number?
- 03
Should the undue hardship standard differ between federal and private student loans, and what is the rationale for treating them differently or the same?
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Sponsor · D-TN-9
Steve Cohen
Citizen cosponsors
0
In Congress
5/ 435
House Reps cosponsoring
Introduced 2025-01-15
Joining the bill
Legislative timeline
2025-01-15 · IntroReferral
Introduced in House
2025-01-15 · house · IntroReferral
Referred to the House Committee on the Judiciary.
2025-01-15 · IntroReferral
Introduced in House
Citizen comments
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