June 2, 2005
Student Loan Bill S-28 Introduced in the Senate
On March 23, 2005, Liberal Senator Wilfred P. Moore introduced Bill S-28 in the Senate, An Act to amend the Bankruptcy and Insolvency Act (student loan).
As with previous bills noted in this blog, the legislation proposes reducing the discharge period for student loans in a bankruptcy from ten years to five years.
Debates on the bill occurred on April 19, 2005 and May 3, 2005.
Although the bill was presented by a member of the governing Liberal Party, it is doubtful that a bill, introduced in the Senate, will pass in both the Senate and the House of Commons before the current sessions ends, or the government is defeated, whichever comes first.
Stay tuned to this space for further developments.
Categories: student loan debt in bankruptcy
I believe that the changes being dicussed will help individual like myself who attended college 93-96. It was 93 that they stopped awarding grants and give strickly loans and June 96 they brought back grants. Currently, I await the new ruling and am 11 months from entitlement of bankruptcy. I have considered a consumer proposal but, if I file then the law will probably change. Financing for my education rewened my “life”. “No home here!”
RSS feed for comments on this post.
Leave a comment