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A new study suggests that distressed borrowers using a simpler bankruptcy process are succeeding — and that more people like them should try.
The process which enables this was introduced during the Biden administration.
Because you can’t do that, even under the new rules; it takes making a good-faith effort to pay off the loans and having undue hardship as a result of them. That’s not a typical situation for new grads.
I guess everyone missed my point then.
Undue hardship IS common for new grads nowadays. Although I guess as it becomes normal, it won’t be considered undue hardship anymore.
The courts definition of undue hardship means not being able to attain a minimal standard of living and not having any real chance of it changing. For new grads in good health, the expectation is that it will change in the near future.