H.R. 423, titled the "Private Student Loan Bankruptcy Fairness Act of 2025," aims to change how some educational debts are treated in bankruptcy. Specifically, it amends section 523(a)(8) of title 11 of the United States Code by removing certain exceptions, making it easier...
Simple Explanation
H.R. 423 is a bill that makes it easier for people to erase their private student loans if they declare bankruptcy, which means they can't pay their debts anymore. It changes the rules about which types of loans can be forgiven when someone is in financial trouble.