Millions of America's most educated and productive citizens are being crushed under the weight of student loans. This trend is increasing and many see it as the next major financial crisis for our country. Student loans are the only type of loan under the law that does not grant borrowers the right to file for bankruptcy. This is absolutely absurd and evidence of a flawed system. Without bankruptcy protection, all the rights of the borrower are stripped away and placed in the hands of the financial institutions. While bankruptcy is far from a desirable outcome for a borrower or lender, it is key to aligning their interests and ensures protection under the law for those in the most difficult of situations. I urge President Obama and Congress to take meaningful action on a looming crisis and give America's most educated and productive citizens the relief they need to get our economy moving again!
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