Discharge Student Loans in Bankruptcy Act of 2015

Bill: 114-hr-449
Sponsor: full_name: Rep. Delaney, John K. [D-MD-6]
Introduced: 2015-01-21
Policy area: Finance and Financial Sector
Subjects: Bankruptcy

Higher education

Student aid and college costs
Latest action: action_date: 2015-02-05
text: Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

Summaries:
action_date: 2015-01-21
action_desc: Introduced in House
text: <p><strong>Discharge Student Loans in Bankruptcy Act of 2015</strong></p> <p>Amends the federal bankruptcy code to allow the discharge in bankruptcy of an educational loan or an obligation to repay funds received as an educational benefit, scholarship, or stipend. (Currently, those debts are dischargeable only if excepting them from discharge would impose an undue hardship on the debtor and the debtor's dependents.)</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 449 IN THE HOUSE OF REPRESENTATIVES January 21, 2015 Mr. Delaney 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 Discharge Student Loans in Bankruptcy 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.