Finance

Warren, Nadler introduce bill to allow student loan borrowers bankruptcy relief

A bipartisan group of lawmakers on Thursday introduced legislation to make bankruptcy relief available for student loan borrowers. 

Sens. Elizabeth Warren (D-Mass.) and Dick Durbin (D-Ill.), along with Reps. Jerrold Nadler (D-N.Y.), John Katko (R-N.Y.) and Joe Neguse (D-Colo.) introduced the Student Borrower Bankruptcy Relief Act of 2019, which would treat student loan debt like other types of consumer debt, according to a Friday statement

“Long before I came to the Senate, I fought my heart out to keep student loans dischargeable in bankruptcy. But over and over again, Congress chipped away at this critical protection for student loan borrowers,” Warren said. “The Student Borrower Bankruptcy Relief Act fully restores this protection.” {mosads}

“Americans across the nation are facing crushing student loan debt that is preventing them from purchasing homes and living the true American dream,” Nadler said in the statement. “We must ensure that Americans are able to invest in their education and then go on to live quality lives without the cloud of rising debt hanging over their heads.”

Warren is among more than 20 people vying for the Democratic Party’s 2020 presidential nomination. Fellow candidates Rep. Eric Swalwell (D-Calif.) and Sens. Kamala Harris (D-Calif.), Bernie Sanders (I-Vt.) and Amy Klobuchar (D-Minn.) have co-sponsored the bill. 

Tags Amy Klobuchar Bankruptcy Bernie Sanders Dick Durbin Elizabeth Warren Eric Swalwell Jerrold Nadler Joe Neguse John Katko Student loans

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