University of Michigan Law School University of Michigan Law School Scholarship Repository Articles Faculty Scholarship 2007 The ondiN schargeability of Student Loans in Personal Bankruptcy Proceedings: The eS arch for a Theory John A. E. Pottow University of Michigan Law School,
[email protected] Available at: https://repository.law.umich.edu/articles/710 Follow this and additional works at: https://repository.law.umich.edu/articles Part of the Bankruptcy Law Commons, Comparative and Foreign Law Commons, Education Law Commons, and the Legislation Commons Recommended Citation Pottow, John A. E. "The ondN ischargeability of Student Loans in Personal Bankruptcy Proceedings: The eS arch for a Theory." Canadian Bus. L. J. 44, no. 2 (2007): 245-78. This Article is brought to you for free and open access by the Faculty Scholarship at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Articles by an authorized administrator of University of Michigan Law School Scholarship Repository. For more information, please contact
[email protected]. THE NONDISCHARGEABILITY OF STUDENT LOANS IN PERSONAL BANKRUPTCY PROCEEDINGS: THE SEARCH FOR A THEORY John A.E. Pottow* I. INTRODUCTION In fiscal year 2002, approximately 5.8 million Americans borrowed $38 billion (USD) in federal student loans. This was more than triple the $11.7 billion borrowed in 1990.' As a rule of thumb, tuition has been increasing at roughly double the rate of inflation in recent years.2 This troubling trend of accelerating tuition, coupled with the fact that real income has stagnated for men and increased only modestly for women over the past two decades,' means that more and more students are going to need to turn to borrowed money to finance their degrees absent a radical restructuring of the post- secondary education system.