One of the frustrating parts of the bankruptcy code for me, personally, is the inability of most clients to discharge student loan debt in Chapter 7 or Chapter 13. I believe schools should have to prove the value of the degrees they are issuing (in terms of real jobs produced) before having their loans guaranteed by all us taxpayers. The question is not whether there will be bad education loans, it is who will be required to pay for them.
Short of a discharge in bankruptcy, the government recently took some steps to help. Read this Forbes Magazine Article if you are wondering about new options for your student loans.
Please contact me if you have any questions.
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