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Will The Fairness for Struggling Students Act Allow Me to Discharge My Private Student Loans in Bankruptcy? – Lexi

Written by Steve Rhode

“Dear Steve,

I owe $25,000 in credit card debt and over $120,000 in student loan debt. Half are federal loans and half are private loans. I am a single mother of two little ones and the reason for my debt was mostly due to my failed marriage and going to an expensive school. I am getting ready to file for bankruptcy as I cannot afford to pay everything anymore.

I know that the student loan debt will not be discharged in bankruptcy, but with the proposed law in the Senate called “The Fairness for Struggling Students Act of 2013″ I am worried that I will file for bankruptcy and then a new law will be passed that will allow some bankruptcy help with private student loans. If this happens will I be able to do anything about it or since I filed then it’s too late? My lawyer doesn’t think the law will change, but I just want to know in case it does. Thank you so much!!!


Dear Lexi,

There is no indication the law will become a reality. Similar laws have been suggested each year for the past few years and they’ve all gone nowhere.

The odds are significantly unlikely it will become a reality anytime soon.

On the federal loans, don’t forget to look at your consolidation and payment reduction options available. See the links below.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

1 Comment

  • Thank you Steve! You have been a tremendous help while I have been going through my financial situation and I will continue to follow you throughout the whole process. I greatly appreciate your help!


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