Now that the Obama administration has thrown its weight behind bankruptcy reform for private student loans, how likely/far away do you think we are from congress enacting meaningful change on bankruptcy rights for private student loans?
May 3, 2014
Without a doubt, it is a big step forward to have the administration behind the idea.
Unfortunately, with Congress as divided as it currently is, Republicans will likely oppose the measure, if for no reason than to prevent Obama from getting a win.
Surprisingly, this proposal has not gotten much attention. Absent a huge swell of public support for the change, it is hard to see the law changing any time soon.
Thanks for your reply,
I am also surprised at the lack of press over the proposal.
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