• suburban_hillbilly@lemmy.ml
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    30 days ago

    And it was that all private student loans were stripped of their bankruptcy protections. Federal loans were given an out but its very difficult. But the amount of private loans exploded and those couldn’t be cleared at all. That’s it. The final truth.

    https://www.consumerfinance.gov/about-us/blog/busting-myths-about-bankruptcy-and-private-student-loans/

    For too long, a myth has persisted that student loans are not dischargeable in bankruptcy. The myth is not true because, in fact, student loans can be discharged bankruptcy. We have seen the Department of Education take important steps to ensure that bankruptcy relief is available to federal student loan borrowers. It is vital that private student loan borrowers also receive the relief the Bankruptcy Code provides —and that loan owners, lenders, servicers, and debt collectors honor that relief when a bankruptcy judge discharges a consumer’s debts.

    Straight from the fucking CFPB. Stop repeating lies that harm people by making them believe they don’t have options that they do.

    Its not their predecessors if its the same person.

    The Biden administration was not running the Department of Education from 2017-2020.

    I don’t know why you’re having such a hard time with this. I’m not talking about everything the democrats and Joe Biden ever tried to do in relation to students loans. I’m not talking about every mess ever made. I’m talking about their handling of the PSLF program. You know, the thing the thread is about.

    You thinking that it’s right is indication of exactly what side you already agree with.

    Saying I said it was right, when I explicitly said it was wrong. Well done.

    So they drew a line. It ended up being in the wrong place and it needs to be redrawn.