Law Prof: Why Discharging Student Debt in Bankruptcy is Good for Lenders

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Aug. 22 (Bloomberg Law) -- If law school graduates were able to discharge in bankruptcy court their student loans from private lenders -- something Congress has prohibited since 2005 -- it might be good for the lenders and the profession, according to Steven J. Harper, an adjunct professor at Northwestern University School of Law. Banks would be less inclined to lend to students who aren't serious about becoming lawyers, and fewer people would go to law school without thinking through their career plans, he tells Bloomberg Law's Lee See more +
Aug. 22 (Bloomberg Law) -- If law school graduates were able to discharge in bankruptcy court their student loans from private lenders -- something Congress has prohibited since 2005 -- it might be good for the lenders and the profession, according to Steven J. Harper, an adjunct professor at Northwestern University School of Law. Banks would be less inclined to lend to students who aren't serious about becoming lawyers, and fewer people would go to law school without thinking through their career plans, he tells Bloomberg Law's Lee Pacchia. See less -

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