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Petition Title: Repeal 11 USC § 523(a)(8)

The economics of higher education are in crisis: tuitions are soaring,
with increases in college and school costs outpacing inflation students are exiting
college and graduate school more indebted than ever hastransformed student loans into the largest source of consumer indebtednessafter mortgages. To make matters worse, all of this comes as the value of higher education is being called into question. With returns sinking and tuitions, indebtedness, and defaults surging, the need for higher education financial reform is pressing. Students are unlikely to be able to repay, and § 523(a)(8) of the Bankruptcy Code exacerbates the effects of such burdensome debt by allowing private and federal student loans to be discharged only upon a showing of "Undue Hardship." Please sign this petition.

 


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