Elizabeth Warren Unveils Student Loan Bankruptcy Bill

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The Student Borrower Bankruptcy Relief Act of 2019 would treat student loan debt just like any other type of debt.

A group of lawmakers from both sides of the aisle introduced a bill that provides bankruptcy relief to those with student debt, The Hill reports.

Senators Elizabeth Warren (D-MA) and Dick Durbin (D-IL), joined by Representatives Jerrold Nadler (D-NY), John Katko (R-NY), and Joe Neguse (D-CO), introduced the 2019 Student Borrower Bankruptcy Relief Act, which proposes to handle student loan debt in a manner similar to other kinds of consumer debt.

“Long before I came to the Senate, I fought my heart out to keep student loans dischargeable in bankruptcy. But over and over again, Congress chipped away at this critical protection for student loan borrowers,” said Warren in a statement issued on Friday. "The Student Borrower Bankruptcy Relief Act fully restores this protection."

“Americans across the nation are facing crushing student loan debt that is preventing them from purchasing homes and living the true American dream," Nadler said in the statement. "We must ensure that Americans are able to invest in their education and then go on to live quality lives without the cloud of rising debt hanging over their heads."

Read the full story here.

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