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H.R. 6588 - Student Loan Bankruptcy Act of 2018

Introduced: 2018-07-26
Bill Status: Referred to the House Committee on the Judiciary.
 
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Full Text


115th CONGRESS
2d Session
H. R. 6588


    To amend title 11 of the United States Code to modify the circumstances under current law to allow an individual debtor to discharge certain educational loans and educational benefits received by the debtor more than 5 years before the commencement of the bankruptcy case under such title.


IN THE HOUSE OF REPRESENTATIVES

July 26, 2018

    Mr. Correa introduced the following bill; which was referred to the Committee on the Judiciary


A BILL

    To amend title 11 of the United States Code to modify the circumstances under current law to allow an individual debtor to discharge certain educational loans and educational benefits received by the debtor more than 5 years before the commencement of the bankruptcy case under such title.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Student Loan Bankruptcy Act of 2018”.

SEC. 2. Amendment.

Section 523(a)(8) of title 11 of the United States Code is amended by inserting “that first became due more than 5 years (exclusive of any applicable suspension of the repayment period) before the date of the filing of the petition, or” after “(8)”.

SEC. 3. Effective date; application of amendment.

(a) Effective date.—Except as provided in subsection (b), this Act and the amendment made by this Act shall take effect 1 year after the date of the enactment of this Act.

(b) Application of amendment.—The amendment made by this Act shall not apply with respect to a debt for an educational benefit, overpayment, loan, scholarship, or stipend received by a debtor before the effective date of this Act.


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