Sen. Durbin Pushes For Student Loan Bankruptcy Bill

Nancy Harty
June 03, 2019 - 2:30 pm

Sen. Durbin (Nancy Harty/WBBM)


CHICAGO (WBBM NEWSRADIO) -- Senator Dick Durbin is trying to build support for a bill to allow people to get out of student loan debt through bankruptcy.

Forty-four million Americans owe a combined one and a half trillion dollars in student loans, according the democrat. 

That's more than what's owed on credit cards and any other debt except for mortgages. 

Bankruptcy Attorney Jim Haller said people must overcome what he calls crazy hurdles to stop paying their loans.

As an example, he said the last person he saw get their student loan discharged was someone who was paralyzed.

Durbin and other democrats introduced the bill last month in the republican-controlled U.S. Senate.

He wants lenders, schools and students to share responsibility for loans and re-evaluate how much debt it makes sense to take on by prospective students.