99% of Federal Student Loan Borrowers Approved for Bankruptcy Discharges

Nearly 99% of federal student loan borrowers who seek bankruptcy discharges under a new initiative have received full or partial discharges of their student loan debt, according to the Biden administration. The program aims to simplify and improve the process for borrowers experiencing undue hardships. The government has been recommending full or partial discharges in a majority of cases. More work remains to be done to increase awareness of the new policy and ensure that all borrowers are aware of the discharge opportunities.