TABLE OF CONTENTS

• Jurisdiction: United States

TABLE OF CONTENTS

Introduction..........................................................................1

Chapter 1: Student Loans and Student Loan Debt..............................5

A. Student Loan Debt and Delinquency....................................................5

B. Types of Loans....................................................................................13

1. Federal Student Loan Programs.............................................................13

2. Private Loans..........................................................................................17

C. Federal Loan Repayment....................................................................19

D. Deferment and Forbearance................................................................23

E. Loan Rehabilitation and Compromise and Settlement........................23

Chapter 2: Section 523(A)(8): Treatment of Educational Debt under the Bankruptcy Code..............................................33

A. The Development of the Current Statute.............................................34

B. The Current Statute.............................................................................35

1. Obligations Within the Operation of § 523(a)(8)....................................36

2. Creditors Within the Protection of § 523(a)(8).......................................55

C. Policy Arguments Supporting the Nondischargeability of Student Loan Debt........................................................................57

Chapter 3: Undue Hardship...................................................................61

A. The Majority Test: Brunner v. New York State Higher Education

Services Corp......................................................................................61

1. Brunner's First Prong.............................................................................62

2. Brunner's Second Prong..........................................................................64

3. Brunner's Third Prong............................................................................68

4. Critique of Brunner.................................................................................70

B. The Totality of the Circumstances Test: Eighth Circuit and Courts in the First Circuit............................................................71

C. Partial Discharge.................................................................................73

Chapter 4: Special Issues in Chapter 13...