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The Biden administration's new student loan bankruptcy policy is making it easier for borrowers to walk away from their debt in court, attorneys say. "We have…
The Biden administration's new student loan bankruptcy policy is making it easier for borrowers to walk away from their debt in court, attorneys say.
Last year, the Biden administration provided a new path to make it easier to discharge student loans in bankruptcy. The results appear promising, but success has been limited.
Alista Lineburg is not a lawyer, but she assumed the role when she couldn’t find one to help her discharge $146,000 of federal student debt in bankruptcy. The process requires a separate lawsuit against the government, something that many lawyers refuse to take on given the time, expense and difficulty of winning. Lineburg, 49, knows this all too well. Even when the bankruptcy court tried to assign her counsel, there were no takers. “The attorney called, and she said, ‘You can’t win this,’” Line