Private student loans can be repaid in case of bankruptcy, 2nd arrondissement rules

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The US Second Circuit Court of Appeals on Thursday ruled for the first time that private student loans can be repaid in the event of bankruptcy, a big win for borrowers facing financial difficulties in paying off their loans.

A unanimous panel of the Court of Appeals in Manhattan ruled that loans do not qualify as a type of “education grant” that can be exempted under federal law.



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