Bankruptcy gives individuals a fresh start by allowing them to discharge much of their unsecured debt. But the consequences of bankruptcy do not end when the legal process is complete. After bankruptcy, families still must figure out how to make ends meet and how to interact with the credit...

In an effort to stem perceived abuses of the bankruptcy system, Congress adopted a rule in 1976 that created a time-based conditional limitation on the discharge of federally guaranteed student loans in bankruptcy. The only means of overcoming the limitation was the showing of an “undue...

Since 1976, Congress has progressively amended the bankruptcy laws to treat some types of student loans differently from other unsecured debt. In 2005, student loans originated by private companies — loans granted only to credit-worthy individuals and risk-priced at origination — were added...

During the first decade of the 21st century, the United States witnessed a dramatic rise in household debt followed by a severe default crisis. In this study, we review the existing literature and provide new evidence supporting the credit supply view of the episode, which holds that an increase...

During the first decade of the 21st century, the United States witnessed a dramatic rise in household debt followed by a severe default crisis. In this study, we review the existing literature and provide new evidence supporting the credit supply view of the episode, which holds that an increase...

Bankruptcy reform in 2005 eliminated debtors' ability to discharge private student loan debt in bankruptcy. This law aimed to reduce costly defaults by diminishing the perceived incentive of some private student loan borrowers to declare bankruptcy even if they had sufficient income to service...

Education loan debt in the U.S. recently reached $1.2 trillion. Thirty-nine million Americans -- nearly 20% of U.S. households -- owe student loans, and student loans are by far the fastest growing component of non-housing consumer debt. For example, in fourth quarter 2013, U.S. households...