This criterion means that, if a school calculates its cost of attendance to be fifty thousand dollars, then any borrowing in excess of that amount is dischargeable
even absent a showing of undue hardship.
Further, by enacting [section]523(a)(16), Congress at most recognized only that some assessments might otherwise be dischargeable
, depending on state law.
Making private loans dischargeable
may motivate private lenders to be more rigorous regarding their qualification demands (Mihaila et al., 2016) and should significantly diminish the quantity of loans private lenders may grant, learning that their loans are dischargeable
Even though neither federal nor private student loan debt is dischargeable
in bankruptcy, their lasting effects on debtors can be very different.
In addition, the penalty is not dischargeable
The statute also provides that to the extent permitted under federal law, an assignment that complies with the statutory requirements for a valid assignment gives the assignee a first priority claim that is not dischargeable
in bankruptcy, against the proceeds received by the applicant (including its estate, trustee, or representative) from the tax credit application that is the subject of the assignment if the assignee has taken the steps needed under state and federal law to perfect a security interest in the assignment.
Student loans are not dischargeable
in bankruptcy except in very limited cases.
Since the origin of the modern Bankruptcy Code, (1) when federal student loans were dischargeable
in bankruptcy, it has become increasingly more difficult to discharge those loans in any bankruptcy proceeding.
(178) Among those considered dischargeable
are debts accrued from unpaid medical costs, financial company loans, and unsecured debt, including credit card debt.
He also raises concerns that the student loans crisis will cause a recession in America which could possibly be worse than the housing crisis, because unlike home loans, student loans are not dischargeable
in bankruptcy and they have exceeded 1 trillion dollars.
The bankruptcy court has the power to forgive tax debts in certain instances, and older tax debts are already dischargeable
. The IRS recently issued guidance clarifying its position that tax debts can be discharged after a factsand-circumstances inquiry even if the debtor-taxpayer fails to properly follow basic IRS filing requirements.
Adding to the impending problem is that debts from student loans are not dischargeable
in personal bankruptcy proceedings.
Congress extended the waiting period before which federal student loans could be dischargeable
in bankruptcy to seven years.
Among several recommendations the CFPB and Secretary of Education made to Congress in the report is to consider allowing private student loans to be dischargeable
(2) Validation of EIS (Electric vehicle Integration System) which aggregates data and information of available dischargeable
capacity and hours of each EV while still allowing the EV to be used as a mean of transportation.