Analytics concerning rareness out-of bankruptcy release having student loans is based on pointers available with the educational Borrowing Management Business (ECMC). ECMC ‘s the guarantee service you to definitely functions defaulted federal student education loans if the borrower records for a bankruptcy proceeding discharge.
Simply 31 out-of 72,100000 student loan consumers having effective personal bankruptcy filings when you look at the 2008 succeeded in getting a complete or limited release of the student loans, based on ECMC.
That’s 0.04%, or likelihood of from the one in dos,five-hundred. Read more “Personal bankruptcy Launch of Student loans Needs Unnecessary Adversity”