Private College Student Loan

Why are private student loans only loan protected?

In Feb 2008 the financial companies sent lobbyist to say that it would make it extremely hard to get a private loan if this was enacted. Nobody is giving private student loans anymore anyways. So that argument doesn't work. Why are private student loans not allowed to be written off in chapter 7 bankruptcy? It seems to be the only loan type that isn't. Also, it's the only one without statue of limitations. Seems to be alot of protection for these companies.

Public Comments

1. cause their private and only that student can only use it