He's released just one proposal on student loan debt so far. But what about his past?
Back in 2015, Biden did indicate he supported the idea of free college, saying, “We need to commit to 16 years of free public education for all our children… We all know that 12 years of public education is not enough. As a nation, let’s make the same commitment to a college education today that we made to a high school education 100 years ago.
In 1990, it was easier to discharge student loan debt in bankruptcy. But Biden was the chief sponsor of the Crime Control Act, which lengthened the waiting period before a student loan borrower could file for bankruptcy. In 1997, a federal panel appointed by President Clinton recommended reversing some of the newer bankruptcy restrictions for student loans, but Biden did not sign on to this recommendation.
In 1998, Biden supported a change in the bankruptcy code that created an “undue hardship” standard for federal student loans, making it significantly more difficult for borrowers to discharge their federal student loans in bankruptcy. Biden continued to oppose efforts to loosen bankruptcy restrictions on student loans through 2001.
In 2005, Biden supported a change in the bankruptcy code that made it much more difficult to discharge private student loan debt in bankruptcy by also applying the “undue hardship” standard. Prior to then, private student loans were not treated much differently than other forms of consumer debt in bankruptcy. Following this change, private student loans started rapidly expanding across college campuses.
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