College graduates struggling to repay their student loans should have an easier time getting their debt eliminated if they go into bankruptcy, Sen. Elizabeth Warren (D-Mass.) said Saturday.
Warren laid out several reforms to address the rising costs of higher education in a speech at the Education Writers Association’s Conference on Higher Education, held at Northeastern University. She spoke of the difficulty a growing number of graduates have repaying their debt and advocated for better financial support for public colleges.
She also called for the reversal of reforms enacted in the past three decades that have made discharging education debt practically impossible, except in extreme circumstances. She declined to offer a specific proposal to address the issue when asked by The Huffington Post, but suggested there were steps Congress could take.
“We stepped a piece at a time into making student loans impossible to deal with when a person hits a financial crisis, there are a lot of steps we could take back out of that,” Warren said. “I’d like us to go a long way toward letting people deal with student loans the same way they deal with home mortgages and medical debts.” <Read more.>