HR 423 · 119th CongressIn Committeecongress.gov ↗

Private Student Loan Bankruptcy Fairness Act of 2025

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Road to The Floor

How it works

Introduced

In Committee

On The Floor

Passed a Chamber

Passed Congress

To President

Became Law

What this bill does

AI plain-language summary

This bill would change the rules for private student loans in bankruptcy cases. Currently, people can only get rid of their student loans in bankruptcy if they can prove the loans cause them serious financial hardship. Under this bill, people would be able to get rid of their private student loans in bankruptcy without having to prove this hardship.

Sponsor

Rep. Cohen, Steve [D-TN-9]

D

Introduced

January 15, 2025

Policy Area

Finance and Financial Sector

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