Student Loan Bankruptcy Parity Act of 2015

Bill: 114-hr-3451
Sponsor: full_name: Rep. Kildee, Daniel T. [D-MI-5]
Introduced: 2015-09-08
Policy area: Finance and Financial Sector
Subjects: Bankruptcy

Higher education

Student aid and college costs
Latest action: action_date: 2015-09-28
text: Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

Summaries:
action_date: 2015-09-08
action_desc: Introduced in House
text: <p><strong></strong><b>Student Loan Bankruptcy Parity Act of 2015</b></p> <p>This bill amends the federal bankruptcy code to eliminate the provision that makes certain education debts non-dischargeable in bankruptcy unless repayment imposes an undue hardship. </p> <p>Specifically it permits a borrower to discharge in bankruptcy a nonprofit, government, or private student loan, or an obligation to repay an educational benefit, scholarship, or stipend. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3451 IN THE HOUSE OF REPRESENTATIVES September 8, 2015 Mr. Kildee introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend title 11 of the United States Code to make student loans dischargeable.

1. Short title This Act may be cited as the Student Loan Bankruptcy Parity Act of 2015 . 2. Exception to discharge Section 523(a) of title 11, United States Code, is amended— (1) by striking paragraph (8), and (2) by redesignating paragraphs (9) through (14B) as paragraphs (8) through (14A), respectively. 3. Conforming amendments Title 11, United States Code, is amended— (1) in section 704(c)(1)(C)(iv)(I) by striking (14A) and inserting (14) , (2) in section 1106(c)(1)(C)(iv)(I) by striking (14A) and inserting (14) , (3) in section 1202(c)(1)(C)(iv)(I) by striking (14A) and inserting (14) , and (4) in section 1328(a)(2) by striking (8), or (9) and inserting or (8) . 4. Effective date; application of amendments (a) Effective date Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act. (b) Application of amendments The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.