Another bill has been introduced that would allow student loan debt to be discharged in bankruptcy under certain circumstances. Debtors who were driven into bankruptcy by medical debt or lost income due to the medical problems of a relative would be eligible for student loan debt forgiveness under a new bill that has very little chance of being passed.
The new bill, called the Medical Bankruptcy Fairness Act of 2014, is being co-sponsored by Senators Sheldon Whitehouse and Elizabeth Warren. Senator Warren is known for her crusading on behalf of those with high medical debt as well as those with high student loan debt, so this bill addresses two of her big concerns. Unfortunately, there is almost no chance that we will see this bill passed into law, as the political support for such a proposal is just non-existent at this time.
