Bill Summary
The Student Borrower Bankruptcy Relief Act of 2019 is a bill proposed in the United States Congress to provide bankruptcy relief for student borrowers. This bill would amend current bankruptcy laws to remove the exception that prevents student loan debt from being discharged in bankruptcy proceedings. This means that student loan debt could potentially be eliminated or reduced through bankruptcy, providing relief for struggling borrowers. The bill also specifies that these changes would only apply to bankruptcy cases filed after the date of enactment.
Possible Impacts
1. It could potentially provide relief to individuals who are struggling with student loan debt and are unable to pay it off through bankruptcy.
2. It could impact the financial stability of lenders and institutions who provide student loans, as they may face losses if borrowers are able to discharge their loans through bankruptcy.
3. It could potentially lead to changes in the regulations and policies surrounding student loans, as the legislation aims to address the issue of student loan debt and bankruptcy.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2648 Introduced in House (IH)]
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116th CONGRESS
1st Session
H. R. 2648
To provide bankruptcy relief for student borrowers.
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IN THE HOUSE OF REPRESENTATIVES
May 9, 2019
Mr. Nadler (for himself, Mr. Katko, Mr. Cicilline, Ms. Scanlon, Mr.
Swalwell of California, Mr. Neguse, Mr. Johnson of Georgia, Mr.
Connolly, Ms. Lofgren, Mr. Danny K. Davis of Illinois, Mr. Cohen, Ms.
Jackson Lee, Ms. Dean, and Mr. Correa) introduced the following bill;
which was referred to the Committee on the Judiciary
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A BILL
To provide bankruptcy relief for student borrowers.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Student Borrower Bankruptcy Relief
Act of 2019''.
SEC. 2. AMENDMENTS.
(a) Exception to Discharge.--Section 523 of title 11, United States
Code, is amended in subsection (a), by striking paragraph (8).
(b) Conforming Amendment.--Section 1328(a)(2) of title 11, United
States Code, is amended by striking ``(8),''.
SEC. 3. 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
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, United
States Code, on or after the date of enactment of this Act.
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