As Student Loan Crisis Looms, Bankruptcy Discussed

As the US student loan crisis could become a time bomb that implodes, a new report from the Brookings Institute identifies the problem and legislation is set to address concerns. Small portion of US student debt to be discharged the bankruptcy US Senator Tom Harkin (D-IA) is prepared to reveal legislation Wednesday that would allow the small portion of US student debt that was privately financed to be discharged the bankruptcy, the Wall Street Journal is reporting. Most of the $1.1 trillion in student debt is held by the US Education Department and would not be subject to bankruptcy.  Only…