Graduating with Debt: Student Loans Under the Bankruptcy Code
10.08.13 — Student loan debt in the US exceeds $1.1 trillion — more than any other type of consumer debt except for mortgage loans — while new education lending continues at an explosive pace. In this forward-thinking book, Professor Daniel Austin and co-author Susan Hauser offer expert knowledge to enable bankruptcy and consumer credit professionals to assist clients in dealing with student loan debt. Graduating with Debt: Student Loans Under the Bankruptcy Code introduces readers to the basics of student loan debt, including different types of loans and loan-forgiveness programs, delinquency and default, and administrative and nonjudicial remedies for borrowers having trouble repaying their loans.
“Some 37 million Americans owe a total of approximately $1 trillion dollars in student loans. Some will eventually pay their loans, others will obtain full or partial loan forgiveness and many will default or die before completing payments,” says Austin. “Those in particularly dire circumstances will look to consumer bankruptcy for relief, but with very few exceptions, student loan debt cannot be discharged in bankruptcy. In this book, we offer guidance for both borrowers and creditors.”
Professor Austin is the author of numerous articles on consumer and business bankruptcy, as well as a book, Reaffirmation Agreements in Consumer Bankruptcy Cases. In addition, he served as a contributing editor to Norton’s Bankruptcy Law and Practice (third edition), and as a contributing author to Newberg on Class Action (third edition).
Prior to joining the Northeastern law faculty in 2009, Austin worked for 16 years as a bankruptcy and commercial law attorney, representing a range of clients from individuals to Fortune 500 corporations.