On Bankruptcy and Mediation
The water flow continues (photo by Marilyn Swanson) By: Donald L Swanson We have a student loan crisis in these United States. That crisis dates back to 2005, when Congress enacted one of the harshest-imaginable bankruptcy laws for student loans.[Fn. 1] That 2005 law, in bi-partisan fashion: cemented the “certainty of hopelessness” interpretation. existing at that... Continue Reading →
BAPCPA By: Donald L Swanson On April 20, 2005 (that's 20 years ago this Sunday), the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) is signed into law, after being passed by bi-partisan majorities in both the House and the Senate. But BAPCPA has been tough on middle class debtors and on debtors with... Continue Reading →
Ignoring reality? (photo by Marilyn Swanson) By: Donald L Swanson We have a student loans problem in these United States. A huge part of the problem is that we are, (i) focused on addressing symptoms of the problem in small ways, (ii) ignoring the underlying problem, and (iii) enabling higher education costs to spiral out of... Continue Reading →
A safety valve? (Photo by Marilyn Swanson) By: Donald L Swanson Lots of things are wrong with the student loan program in these United States. For example: It’s a corporate-welfare program for high-price colleges; butTheir students pay the price. Unfortunately, the safety valve protection for students (i.e., a bankruptcy discharge) has failed them—and made the problem... Continue Reading →
Brunner's "certainty of hopelessness" test? (photo by Marilyn Swanson) By: Donald L Swanson “Petition DENIED” That’s the ruling of the U.S. Supreme Court, dated June 21, 2021, in McCoy v. United States (Case No. 20-886). The question in McCoy v. United States focuses on the test for discharging student loans in bankruptcy, under the “undue hardship”... Continue Reading →
A good intention gone awry (photo by Marilyn Swanson) By: Donald L Swanson It is the lot of good intentions—to go awry. And so it is with the federal government’s student loan program. Its good intentions are obvious: making a college education available to everyone—even at high-price colleges. Catastrophic Consequences Such good intentions have gone awry, with... Continue Reading →
Brunner's "certainty of hopelessness" test? (photo by Marilyn Swanson) By: Donald L Swanson One of the human tragedies of our time is this legal opinion: Brunner v. New York State Higher Education Services Corp., 831 F.2d 395 (2d Cir. 1987). Brunner creates a three-part test for discharging student loans in bankruptcy, under the “undue hardship” standard... Continue Reading →
By Donald L. Swanson The crazy-season is when millions of people incur easily-obtained student loans they can’t afford, for another semester of college. That time is nearly here, again, as a new school semester begins after the turn of the year. An even-crazier part is this: the U.S. Government guarantees payment of those unaffordable loans—which is... Continue Reading →
By: Donald L. Swanson “Back when I was in school . . .” This is a tired-old phrase, usually followed by tales of hardship. The Olden Days But here’s an opposite twist: Back when I was in college (during the 1970s), you could actually pay your way through, with little-to-no debt, by working part-time jobs... Continue Reading →
By: Donald L. Swanson “the borrower is servant to the lender” Proverbs 22:7 (KJV). The long-term drag of student loans on the lives of many college graduates is a horrible thing. And discussions about relieving that problem are important. But long-term effects on students are a mere symptom of the problem. The underlying problem is this:... Continue Reading →
MEDIATBANKRY 