Bankruptcy Lawyers Warn of Looming Student Loan ‘Debt Bomb’ | ABA Journal | Debra Cassens Weiss | 3/12/12

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Student loan debt could turn into another crisis for the economy, according to the president of the National Association of Consumer Bankruptcy Attorneys.

According to the Washington Post:

  • Eighty-one percent of the responding lawyers reported an increase in the number of potential clients they are seeing with student loan debt.
  • Forty-eight percent said the increase was “significant.”
  • Ninety-five percent said few student loan debtors have any chance of meeting hardship standards to discharge the obligations in bankruptcy.
  • Parents who co-signed for the loans are also affected, according to the lawyers group. Loans to parents for their children’s college education have increased 75 percent…

via Bankruptcy Lawyers Warn of Looming Student Loan ‘Debt Bomb’ – News – ABA Journal.


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